Chemical firm with 25 year history enters administration

A Huddersfield chemicals company has entered administration and a rescue deal is being sought.

Paul Zalkin and Andrew Andronikou at business advisory firm Quantuma LLP have been appointed administrators to Grosvenor Chemicals.

The firm, which is part of the Whyte Group, has over 25 years’ experience in synthesising, formulating and packing chemical products for a variety of industries including the agrochemical, pharmaceutical and household and industrial markets.

This follows the administration of fellow-Whyte Group company Whyte Chemicals earlier this year, on which both Zalkin and Andronikou were also appointed. The group was obliged to restructure its credit facilities following negotiations with its previous funder, resulting in severely restricted working capital availability. 

The joint administrators have secured additional funding for Grosvenor, which continues to trade whilst the business and assets are marketed for sale.

Paul Zalkin, director at Quantuma, said: “Much like the successful transaction we arranged to support Whyte Chemicals earlier in the year, we are optimistic that a rescue deal will be completed for Grosvenor Chemicals. We have identified several interested parties, and meaningful negotiations are at an advanced stage.”