Charnwood Paint Specialists called in Leonard Curtis as administrators on 14 August after a difficult period of trading due to inflationary pressures and a slow recovery from Covid-19 lockdowns.

The problems were compounded when the company’s in-house accountant failed to monitor and pay one of the company’s largest suppliers, InPlace Personnel Services, who in turn issued a winding-up petition against the company in January 2023.

Charnwood stated that the error with previously filed accounts had resulted in an erroneous tax liability, which was not considered payable by the directors.