ilke homes files administration notice as deadline to save company approaches
North Yorkshire-based modular house builder, ilke Homes, has filed a notice of intention to appoint an administrator.
The business, which says it has been hit by volatile economic conditions, as well as issues with the planning system which are complicating fundraising and housing delivery, is currently seeking a buyer.
It has been exploring avenues for fundraising and the firm’s backers hope to secure a future for the company via a sale or investment, to enable it to complete its 4,200-home pipeline and retain its nearly 1,000-strong workforce.
ilke has reportedly been offered to potential buyers for bids over £1, with some major house builders approached.
But any bid for the business will need to be lodged before the end of this week, when the future of the firm will be determined.
The company, which was established in 2018, manufactures homes for a range of clients including councils and housing associations. It operates from a 250,000 sq ft factory in Knaresborough.
