Recession (Credit crisis) – 2008 and on
I thought I would put this together as a reminder of what happened and who was lost. I can remember the last recession back in the 90’s that was an interesting time but this time around its taken out a lot of well know company’s.
Part of the problem from what I can see is the banks are not extending monies to some of these and as such they are going to the wall.
When a company does goes bust, a notice is posted in the London Gazette , which should also provide the name of the appointed insolvency practitioner or company administrator.
Here is a small list of the more notable stores that ran into trouble. There are many other company’s that as a result of these going down will also in turn close. It stands to reason if you are a small company and you have not been paid by your customer then it is going to put huge pressure on your cash flow.
- Adams – Clothing 260 Stores in the UK
- Zavvi – Music Retailer
- Woolworth – High Street Chain
- Entertainment UK – Distributor of entertainment products
- Wagon Automotive (UK) – Car Parts
- Whittard of Chelsea – Tea and coffee (Sold to EPIC private equity partners)
- Landsbanki Islands hf – BANK
- USC – Fashion Retailer
- Olan Mills – Photography Studio
- Morgan – French womens clothing store
- Wedgwood – Pottery
- Passion for Perfume – Perfume retailer
- Viyella – clothing manufacturer
- Sofa Work Shop – furniture retailer
- Land of Leather – furniture retailer
- AP Driveline – Car clutch manufacture
- Newcastle Production – produces food under licence for Findus
- Nortel (UK) – subsidiary of telephone equipment maker Nortel
- Empiredirect – Online Electrical etailer with 14 Shops
- Barratts – Shoe Shop
- Priceless – Shoe Shop
- Mosaic – Owner of (Oasis,Karen Milen,Warehouse,coast,Principles,The Shoe Studio)
- Rileys – Snooker firm
- Bithdays – Greeting Card chain
- LDV – Van maker
- Coffee Republic – 187 Coffee Republic-branded cafes
- Canterbury Europe – known for its rugby shirts, and supplies teams including the Scottish national side, Wasps and Leinster.
- Allied Carpets – Supply of carpets
If I have missed any please post a note and I will add them to the list