KPMG has been appointed administrator of Yorkshire house builder, Consort Homes.
The firm's administrators, Mark Firmin, Richard Fleming and Blair Nimmo in Scotland, took over from the main companies in the house builder's group, including operations in Paisley, Scotland. Consort Homes has a turnover of £22m.
A KPMG spokeswoman said the administrators were reviewing the options available to the business, which they intended marketing for sale.
Firmin, joint administrator and restructuring partner, said the group has been a victim of the slow-down in the housing sector amidst difficult market conditions.
'The reduction in activity in this sector is due to the combination of a lack of consumer confidence in the property market and the limited access to mortgage funds for prospective purchasers.
'We will be writing to all affected parties, including contractors and customers, advising them of the situation whilst we review the options for the business,' he said.
Further reading:
Comments