Job fears as Chesterfield business goes into liquidation
A Chesterfield business has become another economic victim of the coronavirus pandemic after it was revealed it has gone into liquidation.
Social housing developer Starfish Commercial Ltd entered creditors’ voluntary liquidation on Tuesday, September 22, liquidation company Begbies Traynor confirmed.
It comes just over a year after Sheffield-based construction company Henry Boot took a majority stake in Starfish, which builds homes for local authorities and housing associations.
A spokesperson for Henry Boot said in a statement that Starfish ‘was not performing in line with our expectations, with Covid-19 also materially impacting its operations’.
Begbies Traynor joint liquidator Kris Wigfield said: “Like many industries, construction has been hit by the fallout of the pandemic, but, while some areas have seen a rise in activity over the last few months, unfortunately, the social housing sector still faces an uncertain future.”
Based on Beresford Way in Chesterfield, Starfish Commercial was founded nine years ago and as well as its work with several local authorities across the country, also built sustainable homes.
In August 2019, Henry Boot Construction Limited acquired a majority share in Starfish Commercial.
It was hoped the move would further enhance Starfish’s ‘buying power within the market’ and allow them access to Henry Boot’s extensive supply chain.
At the time, Simon Carr, managing director of Henry Boot Construction Limited, said: “Starfish have an exceptional reputation in the social housing market with a number of long term relationships and repeat clients.
"We believe we can help Starfish grow and continue to deliver high quality housing for both its existing clients and for new partners. Further, we also believe this acquisition will provide a presence in a very exciting and growing market that is an excellent fit for us,” he added.
Starfish had a mission statement of ‘Creating Better Business, Homes and Communities’.
Kris Wigfield and Joanne Hammond, of Begbies Traynor, have been appointed as the joint liquidators this week.
Begbies Traynor has been unable to confirm how many people work at Starfish before we went to press.
Marketing agency for the town Destination Chesterfield said it would not be appropriate to comment at this time.