A new contractor is being sought to finish building 120 homes left standing by ilke Homes following its collapse into administration.
Housing association Stonewater had been in contract with ilke to deliver the new social housing properties on Holmer Road in Hereford before the modular housebuilder went under in June.
ilke Homes collapsed into administration owing in the region of £320 million to creditors, suppliers and subcontractors.
More than 1,000 staff were made redundant as a result – 1,039 were part of the company’s Homes division, while 19 had worked in ilke’s Land division.
It is understood ilke had suffered inflationary pressures and a lack of land supply linked to planning processes.
And, after weeks of trying, the financially struggling firm had failed to find a buyer or a fresh injection of capital, tipping it into administration.
Financial advisory firm AlixPartners was appointed as the administrator at the request of the directors.
Stonewater, the landowner of Holmer Road, said it hopes to be back on site soon.
“Prior to ilke entering administration Stonewater was in contract with ilke Homes to deliver 120 homes at Holmer Road,” said Matthew Crucefix, director of development (South and West), Stonewater.
“As landowner, Stonewater is looking to appoint a new contractor to deliver these much-needed homes as soon as we can. We are working through this process and hope to be back on site soon.”
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