Mulbury Homes understood to have appointed Kroll as firm buckles under financial troubles
Regional housebuilder Mulbury Homes is understood to have appointed administrators amid mounting debts.
The 拢38.4m turnover firm is expected to announce today that it has appointed Kroll as administrators.
A statement released by Mulbury on Friday said: 鈥淭he company has filed a notice of intention to appoint administrators. The company is currently considering its options and a further update will be provided soon.鈥�
黑洞社区 understands the Cheshire-based developer, which employs around 20 staff, had been struggling with cash flow issues and was under pressure from secured creditors amid a number of debts.
Its latest accounts for the period ending 31 March 2020 reported pre-tax profit of just over 拢12,000, less than half of the 拢27,800 posted for the previous year.
The firm鈥檚 website describes itself as an 鈥渁ward-winning developer with specialist divisions in affordable homes, care, city, residential and land procurement鈥�.
It currently has 1,089 homes under construction and has built around 2,000 homes with a combined value of 拢149m since it was set up in 2010.
No comments yet