A housing developer behind prominent schemes in Manchester city centre has collapsed, with the loss of about 40 jobs. Mulbury Homes had been in business since 2010 and completed schemes such as The Astley, a 14-storey apartments scheme in Great Ancoats Street a few years ago.
Andrew Knowles and Steve Clancy, both of Kroll, have been appointed joint administrators. READ MORE: Bot detection firm used by William Hill, Sony and Pets at Home secures £9m investment The company is known for its specialism in the procurement and delivery of affordable housing for registered providers, BusinessLive reported.
Headquartered in Lymm, the developer employed about 40 staff and had been "struggling with trading and cash flow issues brought by the pandemic, planning delays and rising costs", a Kroll statement said.
Mr Knowles said: "The continued difficult trading conditions, rising costs, and financial pressures as a result of bad debt has led to a weakened cashflow position which has led to the appointment of the joint administrators." On appointment, the joint administrators ceased to trade the business as a going concern and made the existing staff redundant.
Read more on manchestereveningnews.co.uk
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