Property developer hit by further administrations

TWO more businesses at developer Modus have gone into administration, taking the current tally to 19.

Tom Jack and Simon Allport  at the Manchester office of Ernst & Young have been appointed as joint administrators for Modus Paignton and Modus Bradford.

The pair have now been appointed to handle the administration of 14 Modus companies in total.

Modus Bradford was the developer of the city’s Rawson Quarter scheme.

On June 11 administrators were appointed to five businesses: Modus Eastern; Modus Midlands; Modus (Trowbridge); Vivo Modus and Manchester Land and Buildings; and they were appointed to seven businesses on June 9.

The Salford-based Modus empire began to unravel in March when its £200m Trinity Walk shopping centre scheme in Wakefield, a joint venture development with South

Africa’s CIREF, was placed in administration with KPMG.

Then on May 18, KPMG was also appointed to the administrations of Modus Properties (Wigan) and Modus (Wigan) – which operate the town’s Grand Arcade shopping centre.

The administration of Modus Ventures, which controlled a group of more than 40 companies, followed at the end of May. And at the beginning of June KPMG was again appointed to Modus Corovest (Blackpool) which operated the Houndshill Shopping Centre in Blackpool.

Modus is owned by entrepreneur Brendan Flood, majority shareholder of newly-promoted Burnley Football Club.