According to Sportskeeda, WWE is looking to shut down their NXT UK brand following a large number of sexual misconduct, harassment, and assault allegations made against stars in the division in what is being referred to as the #SpeakingOut movement. As of this writing, only Travis Banks and Ligero have been released from their contracts, but WWE continue to monitor the other wrestlers who have been accused, including former cruiserweight champion Jordan Devlin.
The report also mentions the financial burden of keeping NXT UK running. Prior to the COVID-19 pandemic, the brand was not drawing well for their scheduled tapings aside from their Takeover specials, nor was BT Sport paying much for the product.
The current NXT UK champion WALTER has stated in the past that he'd like to remain working the European circuit as opposed to the main roster WWE brand, but with operations still shutdown from the viral outbreak, all things are up in the air. Even if a shutdown of NXT UK does occur, there's a good chance that the roster could remain with WWE.