# Marden Homes Limited (02769286)

> Why UK company 02769286 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02769286

- **Status:** In administration
- **Administration began:** 2024-10-21
- **Administrators:** Michael James Wellard
- **Administrators' firm:** RBW Restructuring
- **Formerly:** Marden Homes Public Limited Company; Letacre Limited
- **Incorporated:** 1992-11-30
- **Location:** Hertford
- **Industry:** 41202 Construction of domestic buildings

## Why it went into administration

- COVID-19
- Rising costs / inflation
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
- Rising interest rates

## From the administrators' statement

Like similar businesses, the Company was severally effected by Covid that initially led to site closures. When developers/contractors were allowed to continue building, the requirements introduced by the Government led to increased costs.

Following Covid, the Director estimates that building costs increased by up to 28%.

In 2021, the interest base rate started to increase, rising from 0.25% in December 2021 to 3.50% in December 2022. The rate continued to rise, reaching a maximum 5.25% in August 2023.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02769286/filing-history/MzQ0NzIyNDUzNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02769286

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.