The UK companies that have plunged into administration in December – full list | UK | News
A number of British companies entered administration this month following the budget announcement. The Autumn Budget included an increase to the minimum wage, a cap on salary sacrifice arrangements and frozen tax thresholds.
One such company is Toolstream, a distributor of hand tools, power tools, fastening materials and workwear to retailers, wholesalers and traders. Executives said the company’s solvency had been affected following the Covid supply crisis, which affected trading conditions and profitability. Leaseco 23, which owns dozens of commercial units in Leeds, has also gone into administration.
Although the company did not explain why, it recently submitted its 2024 accounts, which brings to mind concerns about its financial situation. Also closing is Peterborough contractor EML, which specializes in commercial and industrial electrical work.
They offered green energy solutions, including electric vehicle charging points. Warwick Ward is also in administration after attempts to refinance, sell and find new investors failed. The Barnsley-based stockist and supplier of earthmoving and waste recycling machinery attributed this to “strong economic headwinds”. Cambridgeshire structural steel contractor SDM Fabrication has also gone into administration amid a “dominant” market outlook and decline in opportunities.
Another business that has gone into administration is EJ Taylor & Sons, a Chelmsford-based civil and ground works contractor. The company stated that the Expression of Interest gave the company “breathing room” in finding potential buyers.
Versarien, an engineering firm in Gloucestershire, is also hoping to find a buyer after submitting a Notice of Intent to appoint administrators.
It comes after it was revealed that the number of UK business owners voluntarily closing their businesses has reached the highest rate since the pandemic. Figures from Companies House showed that the number of solvent businesses going into liquidation increased in the 2024-25 tax year.
Tax consultants told Finance Times He said they saw this increase after Rachel Reeves announced an increase in rates on disposals of business assets during the Autumn Budget 2024.
He managed to avoid closure by purchasing many large companies. Claire’s, Hobbycraft and WHSmith were all acquired by Modella Capital in 2024 and 2025. Poundland avoided collapse after a turnaround plan was approved just days before the company ran out of money.
