UK’s largest chamber of commerce on brink of collapse August 7, 2025 The largest accredited chamber of commerce in the UK is on the brink of collapse after filing a notice of intent to appoint administrators. Greater Manchester Chamber of Commerce, which has around 4,000 members, has cited the Covid-19 pandemic and its aftermath for creating “sustained financial pressures” as one of the reasons behind its current [...]
Here’s why the Simmons bar was never going to last August 6, 2025 It should have worked. On every level. Millennial pink neon art, reliably late opening hours, chugging cheap cocktails to disco playlists. Who doesn’t like disco playlists? And yet, after taking the “tough decision” to close four bars, Simmons has gone into administration, owing millions to the bank and tax collectors. When Simmons launched in 2013, [...]
Is Claire’s about to disappear from the UK High Street? August 6, 2025 Claire’s accessories has filed for bankruptcy in the US and entered administration in France, stoking fears about its presence on UK high streets. The US-based fashion accessories and jewellery business filed for Chapter 11 bankruptcy in a court in Delaware, according to new documents. Chris Cramer, CEO of Claire’s, said the decision was “difficult” but [...]
Simmons: Bar chain owed millions to OakNorth, tax collectors before entering administration August 6, 2025 Simmons owed millions of pounds in debts to OakNorth bank and tax collectors before it was put into administration, fresh corporate documents have revealed. The London-based cocktail bar chain has made at least 30 staff redundant alongside closing several sites as founder Nick Campbell battled to secure rescue funding to buy the company in a [...]
Y-Combinator-backed agritech Supplant put up for sale after plunging into administration August 5, 2025 An agritech firm backed by the likes of Y-Combinator has been put up for sale after being plunged into administration, City AM can reveal. Cambridge-based Supplant, which had raised more than £25m in funding since launch, is now searching for a rescue buyer and will accept offers over just £2.5m, according to an insolvency marketplace [...]
London cocktail chain Simmons enters administration amid site closures August 5, 2025 London cocktail chain Simmons has entered administration after announcing plans to close at least four sites as it became the latest victim of the immense cost pressure facing hospitality firms. The upmarket bar group, which had operated more than 20 venues across the UK, has appointed advisory firm Kroll to oversee the administration, company filings [...]
Bad habits: Ed Sheeran’s music school in the red before rescue amid huge debts August 1, 2025 The Surrey music school, whose former students include Ed Sheeran and the 1975’s Matty Healy, fell into the red before being taken over, its latest corporate filings show. The Academy of Contemporary Music (ACM) in Guildford has posted a pre-tax loss of £797,474 for its latest financial year – the 12 months to 31 August, [...]
Agritech firm Vertical Future put up for sale on insolvency marketplace after losses widen July 30, 2025 One of Britain’s biggest vertical farming businesses has been put up for sale on an insolvency marketplace after reporting widening losses, City AM can reveal. London-based Vertical Future, which has raised more than £37m in capital since it was founded in 2016, saw its losses surpass £10m in 2024 after turnover tumbled from £6.7m to [...]
Gusto: Restaurants to close and almost 200 jobs lost as rescue agreed July 29, 2025 Almost 200 jobs have been lost at Italian restaurant chain Gusto after a deal to buy it out of administration was agreed. Cherry Equity Partners is to acquire the majority of Gusto in a move which will lead to around 190 redundancies and the closure of six restaurants. The deal, which is being undertaken through [...]
Insolvencies ease in signs of UK businesses’ resilience July 18, 2025 Insolvencies declined slightly in June in signs UK businesses under pressure from higher costs have weathered through tax rises and low national spirits. In new data published by the Insolvency Service, company insolvencies fell by eight per cent in June compared to the month before. The number of insolvencies – 2,043 – was also 16 [...]