1857, the local economy was rocked when John Davis Gotch and Thomas Henry Gotch, bankers, tanners and brewers were declared bankrupt. They were owners of The Kettering Bank where hundreds of local individuals and organisations kept their savings. Nine hundred creditors lost money including several Burton Latimer societies and charities. These were: the Burton Latimer Amicable Provident Society: £334 ; Burton Latimer Clothing Club: £21 ; Burton Latimer Foresters' Club: £108; Burton Latimer Odd Fellows' Club: £139 ; Scott's 40 Acre Charity: £23 and Burton Charity: £15. Athough some large creditors received 2s 6d in the pound, many smaller unsecured creditors like the ones above lost everything.

Immediately after the bankruptcy proceedings, properties belonging to the Gotch family were sold - three farms, the bank premises in Kettering market place, Chesham House in Lower Street, the nearby currier's shop and tanyard, and a range of other properties including eleven cottages. However, the family recovered and managed to retain its influence in Kettering for over 200 years. Over time the Burton Latimer Friendly Societies also recovered - the two charities – Scott’s 40 Acre and Burton Poor - certainly did and are making grants to this day through the Burton Latimer Ancient Parish Charity and the United Education Foundation.