Collapsed modular homes business had more than £319m worth of debts
Modular homes builder, ilke Homes Ltd, sank into administration carrying net debts of more than £319m.
The figure has been published in a statement of affairs released by the collapsed business’s administrators – Alix Partners.
Most of the debt comprises £227m owed to “intercompany creditors”, cash which is ultimately owed in equity to ilke’s investors, who include TDR Capital, Sun Capital and Fortress Investment Group.
The statement of affairs shows ilke owes nearly £68.2m to publicly-funded Government housing agency, Homes England, which was a major supporter of the company.
The business, which was based in Flaxby, near Knaresborough and had employed more than 1,100 workers, is also listed as owing £17.1m to trade creditors, £2.19m to HMRC, £5.56m to other creditors, and £724,000 to staff.
More than 600 former workers who had been employed at ilke are currently taking joint legal action over job losses.
Law firm Aticus Law has confirmed it is acting on behalf of more than 600 ex-staff over the way the redundancy process was managed.
The claim will concentrate on whether a correct consultation process was followed, and whether ex-workers are eligible to claim for a protective award claim against the business.
