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What to do if a company goes bust How to complain

Summary

A quick summary of your rights:

  • If you book an ATOL-protected flight or holiday, you won’t be stranded abroad

  • If you buy on credit and the supplier goes bust, you can claim a refund from the credit company

If your holiday company goes bust, and your holiday is Atol-protected

If your company goes bust while you are actually on holiday, and the trip is Atol protected, you don't need to do anything. Atol will have access to your holiday details and will contact you to make arrangements for you to get you home.

If you are yet to travel, and your holiday company goes bust, contact Atol to claim a refund. Visit the Atol website or phone 020 7453 6350.

If your financial services company goes bust

If a financial services company (for example, an investment or insurance company) goes bust, contact the Financial Services Compensation Scheme (FSCS) as soon as you discover that there is a problem. The FSCS can give advice and will investigate to see if you qualify for compensation. Visit the FSCS website or phone 020 7892 7300.

If another type of company goes bust

If you discover (or suspect) that a business that owes you money, or still has goods you ordered, has gone bust, you may need to claim to get some of your money back.

Step one

Find out if the business has gone bust and get details of the receiver or insolvency practitioner dealing with it.

  • If the business is a sole trader (such as a tradesperson working on their own) or partnership, find out whether insolvency proceedings have started. Checking the insolvency notices section of local newspapers or check The Individual Insolvency Register.
  • If the business is a limited company, contact Companies House.

Step two

If the business has gone into liquidation, get the name and address of the receiver or insolvency practitioner and write to them to register your claim, explaining exactly how much money you are owed, and what it is for.

There is no guarantee you will get all (or any) of your money, because it's likely the company has many debts, but you will have to claim to have any chance of getting something back.