Another Hartlepool Business Plunged into Insolvency – & Another Blow to Hartlepool’s Fragile Business Sector
- teessidetoday
- 1 day ago
- 2 min read
The number of Business going bust in Hartlepool Raising Alarms Over The Towns Economic Future....
10th November 2025
Another Hartlepool Business has been placed into liquidation cementing fears the towns Business Sector is crumbling, coming just weeks before what many claim will be a 'punishing' Budget rained for local businesses, accelerating the number of business going bust even quicker.
Hartlepool Based 'Owton projects Ltd', was the latest business casualty this month, as it was revealed the business was plunged into insolvency owing around £72,000 to its creditors according to the most recent documents filled with Companies House.
A newly filed Statement of Affairs seen by the Teesside & Durham post has revealed that Owton Projects Ltd — entered liquidation this month with total debts said to be around £72,550 as of the 29 October 2025.
The document, signed by company director Ian Sweeting, was prepared by insolvency specialists FRP Advisory of Stockton-on-Tees who are now handling the firms affairs.
According to the statement, the company’s total assets were said to be valued at just £57,828, made up primarily of cash at bank and a tax refund. However, its liabilities were said to have simply outweighed those assets, causing the business to collapse.
The report details debts owed to HM Revenue & Customs said to be worth £54,629, with Employees Redundancy & Notice Pay (roughly five employees) said to be worth £59,863. A Bounce Back Loan is said to be owed to NatWest Bank of just over £12k, as well as various other debts. This brought the total unsecured and preferential creditor claims to approximately £74,621, leaving the company with an estimated deficiency of £71,950 once those assets were accounted for.
The document lists three shareholders for the company with a share capital of just £600 pounds.
In total, the statement from the firms liquidators concludes that Owton Projects Ltd faces a deficiency of approximately £72,550, representing the total loss to shareholders and creditors combined.
Business Closures in the region have rocketed in the last year !
The liquidation is being handled by Martyn James Pullin and Bhuvnesh Majupuria of FRP Advisory Trading Limited, Falcon Court, Stockton-on-Tees, however the Teesside & Durham post understands that the number of businesses being wound up on Teesside & County Durham has rocketed, & is having a profound impact on the local economy as well as business confidence.
