Mulbury Homes Limited (07185858): administration
- Status
- Administration ended
- Administration began
- 2022-02-15
- Administrators' firm
- Kroll
- Incorporated
- 2010-03-11
- Location
- Manchester
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Rising costs / inflation
- Bad debts / customer insolvency
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company is a privately owned contractor mainly operating across the North West of England undertaking new build residential contracts carried out under traditional and design & build arrangements in the value range of £2.5 million - £25 million.
The Company's residential experience includes new build housing projects in both the private and social housing sectors.
The Company had been successful in tendering for a number of large construction projects in recent years in an increasingly competitive market. However, during the past 12 months, the Company incurred losses due to a number of contract overruns and raw material and labour price increases. The combined effect of these losses coupled with the uncertain outlook for the construction industry in the wake of the Coronavirus pandemic caused a drain on the Company’s cash reserves.
Administrators' statement of proposals (2022-04-27) · Companies House register