Courtyard falls victim to credit crunch

Retirement housing specialist English Courtyard is under administration as
the credit crunch takes it toll, leaving four housing schemes incomplete.

Documents filed at Companies House, show the Berkshire company, which
employed 21 staff in the year ended 7 April 2006, made a pre-tax profit of £2m
on turnover of £13m.

Martha
Thompson,
BDO Stoy Hayward
business restructuring partner, said the state of the UK
economy and its knock-on effects on the housing market had directly affected
business.

BDO is trying to find another contractor to complete the company’s four
schemes which are under construction.

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