Coatings company’s future unclear as it alerts administrators

The future of a Leicestershire coating company is in doubt after it posted a notice of intention (NOI) to appoint administrators.

Charnwood Paint Specialists, based in Loughborough, has posted the NOI which will protect it from creditor action for a period of two weeks.

At the end of January, the firm was subject of a winding up petition from a company called InPlace Personnel Services, a recruiter from Mansfield.

Charnwood Paint Specialists’ website says it operates from a 16,000 sq ft premises that houses one of the largest box ovens in the East Midlands. The company carries out wet painting, powder coating and shot blasting.

A blog post on the firm’s website from October 2022 says it has experienced a record year.

On Wednesday (July 26), according to Companies House, Bibby Financial Services registered a charge over Charnwood Paint Specialists.

According to Charnwood Paint Specialists’ latest available accounts, made up to the end of July 2022, the company had net assets of £48,616. The average number of employees over the year was 20.