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 £38.4m turnover firm is expected to announce today that it has appointed Kroll as administrators.
A statement released by Mulbury on Friday said: “The 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.”
Building 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 £12,000, less than half of the £27,800 posted for the previous year.
The firm’s website describes itself as an “award-winning developer with specialist divisions in affordable homes, care, city, residential and land procurement”.
It currently has 1,089 homes under construction and has built around 2,000 homes with a combined value of £149m since it was set up in 2010.
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