Just a quick note to say a big thank you to all the staff at KSA, our CVA was passed today by creditors voting in an overwhelming number including HMRC to accept the proposal as prepared by KSA.
The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders.
News of Companies That Have Gone Bust in the UK
The listings included on this page are of companies that have gone into administration, CVA or liquidation. It is not a definitive list but a summary of the major company failures in the UK.
Why do companies go bust?
It should be noted that a company “failing” or closing down is not the same thing as one going bust. A failing business can be defined as one that has not been successful in its aims. If it can’t generate enough money to pay its owners/shareholders then it might just cease trading and the directors wind up the company. There are thousands of such ventures and many of the owners/directors have another go and may well go on to succeed.
Going bust is basically where the business cannot continue in its present form, as it owes too much money and the creditors want it back! These creditors can be; HMRC, Banks or other Lenders, Trade Suppliers.
It should also be noted that an insolvent company i.e one that owes its creditors more than it has in cash/assets, is not actually bust. It can continue as long as it has cash to pay for essential activities and no one is putting pressure on the business to repay the debt. Once a company has a winding up petition issued against it this tends to crystallise the situation.
Yes you can sell or transfer assets prior to insolvency but you must make sure...
If a company goes into a liquidation process, its assets, i.e. property and...
5 May 2021
An update on the status of Debenhams stores.
All stores will close...
Company Insolvencies in Q4 2020 were lower compared to that of Q4 2019 for England, Wales, Scotland and Northern Ireland
The statistics for Company Insolvencies in UK, Northern Ireland and Scotland for...
New statistics show a decrease in overall company insolvencies for England, Scotland and Northern Ireland
The insolvency statistics for Q1 2020 (England, Scotland and Northern...