Poole Investments Limited (02282021): administration
- Status
- Administration ended
- Administration began
- 2023-10-05
- Administrators' firm
- FRP Advisory
- Formerly
- Poole Investments PLC; Pilkington's Tiles Group PLC; Quiligotti PLC; Fallrace Limited
- Incorporated
- 1988-07-29
- Location
- London
- Industry
- 68201 Renting and operating of Housing Association real estate
Why it went into administration
- Parent or group failure
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Property / lease costs
- Rising interest rates
- Loss of key people
From the administrators' statement
Incorporated in June 2005, PLC was an AIM-listed specialist housebuilder and brownfield developer, dedicated to achieving excellence in sustainability and design.
Via the incorporation of special purpose vehicle subsidiaries of PLC, the Group acquired brownfield land in the South and South East of England principally for residentially led development schemes. The land value was then enhanced by obtaining planning permission, before building open market and affordable homes or selling surplus consented land to other developers to generate cash.
IL employed a total of 100 employees prior to the Administrators’ appointment, occupying a combination of full and part time roles. The employees were based at either the Group’s head office in Beaconsfield or at one of the various site offices located at the development sites.
Administrators' statement of proposals (2023-12-04) · Companies House register