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Leeds builder Consort Homes in administration
LEEDS-based housing firm Consort Homes fell victim to the squeeze in the UK housing market today when it called in administrators.
Administrators from KPMG have taken over the main companies within the group, which has a second base in Paisley, Scotland, following a request from Consort's directors.
A spokeswoman at KPMG said administrators Mark Firmin and Richard Fleming and, in Scotland, Blair Nimmo, from KPMG's restructuring practice were currently reviewing the options available to the business and intended to market the business and assets for sale.
Consort is privately owned and its headquarters is in Featherbank Court, Horsforth.
It employs 46 people, largely in management, sales and administrative roles.
The company has a turnover of 22m and has ten active development sites, all in Yorkshire and Scotland.
Joint administrator and KPMG restructuring partner, Mark Firmin, said: "Since the onset of the credit crunch, market conditions have been difficult and the group has been a victim of the slow-down in the housing sector.
"The reduction in activity in this sector is due to the combination of a lack of consumer confidence in the property market and the limited access to mortgage funds for prospective purchasers.
"We will be writing to all affected parties, including contractors and customers, advising them of the situation whilst we review the options for the business."
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Weather for Leeds
Sunday 12 February 2012
Today
Light rain
Temperature: 1 C to 6 C
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