Housebuilder with 17 live sites goes into administration
Administrators from business advisory firm Quantuma have been appointed over Lane End Developments Construction Limited, a leading contracting developer for the housing sector across the North West and Wales, working exclusively with social housing providers.
Quantuma managing directors Jeremy Woodside and Frank Ofonagoro, both of the firm’s Manchester office, were appointed as Joint Administrators of the Warrington-based company on 4 April 2023.
The business had been looking for a buyer earlier this year but a deal couldn’t be found in time.
The company was started in 2016 and has built more than 1,000 homes since then, as well as pioneering social value schemes. The business currently has live projects on 17 different sites, employing 118 members of staff in total. It turned over in around £81m in its last financial year.
The company delivered several sites for social housing provider Jigsaw Homes and for Laurus Homes. Other commercial sites across the North West include Sandbach, Crewe, Helsby, Stockport and Cottam Brickworks in Preston.
Quantuma managing director and Joint Administrator Jeremy Woodside said: “This is obviously a very difficult and uncertain time for the company, its employees and suppliers, and its wider stakeholders. We’re currently working alongside potential funders and senior management to assess the options available to them to restructure Lane End Developments Construction and allow it to continue to operate and deliver the housing projects across our region.”