Concord Limited, BAS Castings Limited and H.I. Quality Steel Castings Limited - administration

Concord Limited, BAS Castings Limited and H.I. Quality Steel Castings Limited, an East Midlands manufacturing group which operates two casting foundries in Pinxton, Nottinghamshire and Whittington Moor, Chesterfield, entered administration on 30 March. The group was impacted by a legacy-defined benefit pension scheme, a period of underperformance during Covid-19, rising energy costs and inflation. Following their appointment as Joint Administrators, Ross Connock and Edward Williams of PwC secured a sale of the business and assets of H.I. Quality Steel Castings Limited to Chesterfield Metal Technologies, a subsidiary of William Cook Holdings, saving 76 jobs. Limited interest in BAS Castings Limited has resulted in 59 redundancies, with 18 employees retained to assist the administrators. Barclays Bank PLC has a number of charges against each of the companies, while Bestrustees PLC has one against Concord Limited.