Jobs to go as modular housebuilder set to wind down Derbyshire factory

Modular house builder TopHat is set to close it Derbyshire factory following a downturn in orders, it has emerge.

The firm, which has a site at Dove Valley Park in Foston, will wind down the facility once all orders are completed, according to trade title Construction Enquirer.

A spokesperson for the company said: “In response to the challenging market environment over the last several years, TopHat has been gradually reducing its workforce.

“Unfortunately, due to the continued reduction in future pipeline, TopHat is in the process of making most of the factory staff redundant by following a statutory consultation process.

“This orderly wind-down of volumetric operations will put the business in a position to assess all future options.

“It is our strong belief that there is a continued need for Category 1 and Category 2 modular in the UK and we hope that we can capitalise on this in the future.”

The news follows a turbulent couple of years for TopHat.

In March, the company put plans to open Europe’s largest modular housing factory in Corby, Northamptonshire, on hold.

The Derbyshire firm said the 650,000 sq ft advanced manufacturing facility was facing delays because of the volatility in the modular housing market.

Earlier that month TopHat said that 70 jobs were facing the axe.

Established in 2016 and backed by investors such as Goldman Sachs, Aviva, and Persimmon, TopHat has received £200m in funding to date.

Despite this support, the company has racked up losses of almost £90m since it started trading in 2016.