Ruthin School, one of the UK's oldest educational institutions dating back to 1284, has announced it will enter financial administration, marking the end of a 700-year legacy. The North Wales boarding school, acquired by Chinese-owned Galaxy Global Education Group in 2023, will not reopen after the summer. Over 100 staff face redundancy, and parents of approximately 240 students are urgently seeking alternative schools. The school had recently been ranked the top independent school in North Wales by The Sunday Times Parent Power Guide 2026 and among the UK's leading boarding schools by the Independent Schools Council.
Eastern Airlines Collapses After Failed Rescue Bid
Eastern Airlines, a regional carrier based in North Lincolnshire that had operated for 25 years, has entered administration. A rescue deal fell through, confirming the airline could not be saved. At its peak, the carrier operated 200 flights daily across the UK, Ireland, and Europe, employing around 330 staff. The vast majority have lost their jobs, with only 16 employees remaining to assist with the administration process.
Construction and Social Housing Firms Hit
G2 Housing Group Ltd, a Hampshire-based construction firm established in 2014, has entered administration after 12 years in building development and management consulting. The company had a strong focus on sustainable construction and was a member of the UN-backed One Planet Network, with a dedicated Director of Sustainability and Wellbeing.
RPA1 Ltd, a social housing company, has also gone into administration due to serious financial difficulties. The firm acquires newly built affordable homes from developers and leases them to registered social housing providers. Joint administrators have been appointed, and they intend to maintain normal operations for residents throughout the process.
Insurance and Manufacturing Firms Follow
W. I. S. E. Underwriting Agency Ltd, a City of London-based insurer trading since 1997, has collapsed into administration. The firm specialised in marine cargo insurance, covering risks, loss or damage, and specie insurance for high-value assets. Its website confirms it has "ceased all trading and regulated activity."
Senior Glass Systems, a sealed glass manufacturer in Scarborough, has entered administration due to cashflow difficulties from mounting costs and downward price pressure. All 27 staff have been made redundant, and administrators are working to ensure workers receive their full entitlements.
These six businesses join thousands of UK companies that have fallen into administration in 2026, driven by soaring energy bills, mounting debt, and reduced footfall. According to industry data, the trend shows no sign of abating as economic pressures persist.
