Chesterfield based Companies that have gone insolvent in the first 6 months of 2023

News

Chesterfield Businesses in Q1 & Q2 that have entered Administration or LiquidationIn the first six months of 2023, Chesterfield has unfortunately witnessed a series of 30 local firms succumbing to insolvency, leaving a significant impact on the local business landscape.

Three businesses of medium size entered administration while the other 27 entered liquidation. Q1 and Q2 of 2023 have presented challenging trading conditions for businesses in Chesterfield.

Several factors have contributed to this difficult period. The lingering effects of the global pandemic continue to impact consumer behaviour and market dynamics. Supply chain disruptions, and changing consumer priorities have affected businesses across various sectors.

Additionally, increased competition, both locally and globally, has placed additional pressure on Chesterfield-based firms to differentiate themselves and attract customers.

Furthermore, rising costs of raw materials, transportation, and labor have squeezed profit margins for many businesses, making it harder to maintain profitability.

These tough trading conditions have necessitated strategic adjustments and resilience on the part of Chesterfield firms to navigate through the challenges and strive for long-term sustainability.

Chesterfield Businesses in Q1 & Q2 that have entered Administration or Liquidation

Company Name Location Date of Appointment Type of Documents Filed Business Activity
DAVID MASON (DESIGN) LIMITED Chesterfield 24 May 2023 Appointment of Administrators Design and development of dining kitchen and tableware products
H.I. QUALITY STEEL CASTINGS LIMITED Chesterfield 30 March 2023 Appointment of Administrators 24520 – Casting of steel
28131 – Manufacture of pumps
28140 – Manufacture of taps and valves
28921 – Manufacture of machinery for mining
SPIRE LEATHER COMPANY LIMITED Chesterfield 24 January 2023 Appointment of Administrators Tanning and dressing of leather; dressing and dyeing of fur
MARTIN LEE CAR SALES LTD Chesterfield 29 June 2023 Appointment of Liquidators Sale of used cars and light motor vehicles
Sale of other motor vehicles
Maintenance and repair of motor vehicles
HOLISTIC PENSION TRANSFER SPECIALISTS LIMITED Chesterfield 27 June 2023 Appointment of Liquidators Other activities auxiliary to insurance and pension funding
VANQUISH PRESTIGE LTD Chesterfield 23 June 2023 Appointment of Liquidators Sale of used cars and light motor vehicles
PIZZA PI PIZZERIA LIMITED Chesterfield 22 June 2023 Appointment of Liquidators Licensed restaurants
LOVE LOTTIEX LIMITED Chesterfield 8 June 2023 Appointment of Liquidators Manufacture & retail of gifts
NJUK HAIR & BEAUTY LIMITED Chesterfield 8 June 2023 Appointment of Liquidators Hairdressing and other beauty treatments
HAND AND CRAFT LTD Chesterfield 16 May 2023 Appointment of Liquidators Other business support service activities not elsewhere classified
NEW POWER SOLUTION LIMITED Chesterfield 15 May 2023 Appointment of Liquidators Trading Name: National Energy Consultants Ltd
DERWENT LIMITED Chesterfield 12 May 2023 Appointment of Liquidators Dry Cleaning and Launderette Service
CONSTRUCTION SKILLS TRAINING SERVICES LTD Chesterfield 10 May 2023 Appointment of Liquidators Other business support service activities not elsewhere classified
OJ EQUIPMENT LTD Chesterfield 28 April 2023 Appointment of Liquidators Machinery repairs and sales
WAM DEVELOPMENTS LIMITED Chesterfield 4 May 2023 Appointment of Liquidators Construction of other civil engineering projects
BEOMIC LTD Chesterfield 28 April 2023 Appointment of Liquidators Oil & Gas Training Provider
TECHNICAL4GROUP LTD Chesterfield 28 April 2023 Appointment of Liquidators Other education not elsewhere classified
TECHNICAL LEARNING SOLUTIONS LTD Chesterfield 28 April 2023 Appointment of Liquidators Technical and vocational secondary education
SPENCERS SOLICITORS LIMITED Chesterfield 27 April 2023 Appointment of Liquidators Legal Services
GLG TECHNICAL LIMITED Chesterfield 28 April 2023 Appointment of Liquidators Management consultancy activities other than financial management
MD PROPERTY SOLUTIONS (MIDLANDS) LIMITED Chesterfield 31 March 2023 Appointment of Liquidators Other specialised construction activitiesnot elsewhere classified
THE RECTORY CHESTERFIELD LIMITED Chesterfield 23 March 2023 Appointment of Liquidators Public houses and bars
COOKING POT 2 LTD Chesterfield 22 March 2023 Appointment of Liquidators Other retail sale in non-specialised stores
JWS PERFORMANCE LTD Chesterfield 20 March 2023 Appointment of Liquidators Maintenance and repair of motor vehicles
HYDROTECH UTILITIES LIMITED Chesterfield 16 March 2023 Appointment of Liquidators Other construction installation
THE GARDEN BUILDING COMPANY LTD Chesterfield 21 February 2023 Appointment of Liquidators Other retail sale of new goods in specialised stores (not commercial, art galleries and opticians)
INSPIRED VENUES LTD Chesterfield 2 February 2023 Appointment of Liquidators Public House
PRINT DIGITAL MEDIA LIMITED Chesterfield 6 February 2023 Appointment of Liquidators Printing not elsewhere specified
SLADE PROPERTY SERVICES LIMITED Chesterfield 31 January 2023 Appointment of Liquidators Property Maintenance
BLACK CAT BARS LTD Chesterfield 26 January 2023 Appointment of Liquidators Public Houses and Bars

Data Source: The Gazette

During the second quarter of the year, Chesterfield businesses experienced significant challenges as rising interest rates and energy prices exerted additional pressure on their operations. The increase in interest rates affected borrowing costs for businesses, making it more expensive to access capital for expansion, investment, or even day-to-day operations.

This limited their ability to invest in growth initiatives and could potentially hinder their competitiveness in the market. Additionally, escalating energy prices added to the financial burden, as businesses had to allocate more resources to cover their energy expenses. This put strain on their profitability and overall financial health.

The combined impact of rising interest rates and energy prices created a tough environment for Chesterfield businesses, necessitating careful financial management and strategic decision-making to navigate through the challenges and maintain sustainable operations.

Conclusion

In conclusion, the forecast for Chesterfield’s small and medium-sized enterprises (SMEs) suggests an impending increase in insolvency cases this year. These businesses are confronted with the enduring cost-of-living crisis, soaring energy prices, stagnant consumer confidence, and persistently high inflation that has yet to be effectively managed.

These cumulative factors present significant hurdles for Chesterfield SMEs, making it increasingly challenging for them to sustain their operations and navigate the turbulent economic landscape. The anticipated rise in insolvencies emphasizes the pressing need for comprehensive support and viable solutions to address the complex and interconnected challenges faced by SMEs in Chesterfield.

It is crucial to recognize and respond to these circumstances to help local businesses overcome these obstacles and foster a resilient and thriving entrepreneurial ecosystem.

Insolvency & Restructuring Expert at Business Insolvency Helpline | + posts

With over three decades of experience in the business and turnaround sector, Steve Jones is one of the founders of Business Insolvency Helpline. With specialist knowledge of Insolvency, Liquidations, Administration, Pre-packs, CVA, MVL, Restructuring Advice and Company investment.