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 [...]
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 [...]
Game over for Tomb Raider composer after Covid loan fraud conviction July 18, 2025 A video game composer and sound designer best know for his work on the Tomb Raider series has been jailed for fraudulently applying for a Covid loan. Peter Connelly, who is based in Durham, overstated his company’s turnover to obtain a second Bounce Back Loan of £37,500 in 2020 when businesses were only entitled to [...]
Reeves’ tax hikes lead to spike in pubs going bust June 16, 2025 The series of tax hikes introduced by Chancellor Rachel Reeves in her Autumn Budget last year has contributed to a spike in pubs going bust across the UK in April, according to new figures. A total of 67 pubs closed down during the month – the highest number since July 2024 when 75 entered insolvency [...]
Insolvency levels hit highest level in eight months in Awful April May 20, 2025 April insolvency levels soared to their highest level in in eight months, official data has shown, reflecting businesses’ helplessness in the face of higher employment costs and the looming threat of President Trump’s tariffs. Over 2,000 companies collapsed last month, with most owners filing for voluntary liquidation and some 105 firms going into administration. If [...]
Umbrella Union to be wound up after HMRC tax avoidance accusation May 16, 2025 A Liverpool-based contracting company accused of promoting tax avoidance is to be wound up after appointing liquidators, City AM can reveal. The firm, called, Umbrella Union, described itself as an “umbrella contracting company” which “can help you comply with financial regulations whilst remaining self employed.” In October last year, HMRC added the company to its [...]
Construction firm insolvencies jump to fresh high amid rising costs May 5, 2025 Construction business insolvencies have increased to their highest-ever level, a City AM analysis has found, as a barrage of rising costs continues to squeeze many in the sector to the point of collapse. As many as 840 construction firms appointed liquidators or administrators in the first four months of the year, the analysis of corporate [...]
Former SAS: Who Dares Wins star Ant Middleton banned after failing to pay £1m tax bill March 24, 2025 Former SAS: Who Dares Wins chief instructor Ant Middleton has been banned from being a director of a company after his business failed to pay more than £1m in tax. The television personality was the director of Sway and Starting Limited along with his wife, Emilie Middleton. The business, which was described as offering media [...]
UK insolvency rules are trapping firms between Scylla and Charybdis March 7, 2025 Outdated insolvency rules such as TUPE are disincentivising rescues of UK companies in irony worthy of the Greeks, writes Stephen Phillips.