1,000 jobs set to go as Ilke Homes enters administration
Modular house builder ilke Homes has been placed into administration, with more than 1,000 workers expected to lose their jobs.
Clare Kennedy, joint administrator and a partner and managing director at AlixPartners, said: “This is an incredibly difficult time for all associated with ilke Homes, and in particular its employees, who have worked tirelessly alongside management over recent months to find a resolution.
“Unfortunately, the market and economic headwinds have proven too strong to overcome, thus leading to today’s appointment.
“Our focus now is on helping all stakeholders, employees, suppliers and customers alike, to find the best possible outcome in this undoubtedly difficult time.”
The company had been exploring avenues for fundraising and the firm’s backers hoped 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 had reportedly been offered to potential buyers for bids over £1, with some major house builders approached.
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.
Late last year, the business managed to raise a record-breaking £100m from new and existing shareholders – the largest-ever sum raised by a UK modular housebuilder.
