Shropshire-based social enterprise to be wound up after post-pandemic 'funding challenges'
An art and design social enterprise is to be wound up after it was hit by "funding challenges" following the Covid-19 pandemic.
Designs In Mind CIC in Oswestry has appointed financial services firm Begbies Traynor as liquidators in order to administer the company's affairs after it ceased trading in October and all staff were made redundant.
It began life more than 30 years ago as an initiative to provide creative and purposeful involvement for adults living with mental health challenges before becoming an incorporated entity in 2005.
It provided services aimed at developing design and making skills for more than 80 people from its studios which were staffed by qualified artists, administrative and finance professionals and volunteers.
Nick West, partner for Shropshire and Mid Wales with Begbies Traynor, and Craig Povey, managing partner for Birmingham, have been appointed as joint liquidators.
They will now manage a controlled winding up of the community interest company and its affairs as part of a creditors voluntary liquidation process.
Mr West said: "The directors of Designs in Mind have made the difficult decision to opt for liquidation after funding challenges since the pandemic and ongoing obstacles to navigate from rising energy and operational costs.
"Despite efforts to improve the company's financial position and protect its profitability, it was unable to continue the services for its members.
"In November, having already ceased trading, the company had to take the unfortunate step of making staff redundant.
"We continue to work with the directors and valuation agents to maximise realisations for the benefit of creditors."
