Heworth Green Developments Limited (10804612): administration
- Status
- In administration
- Administration began
- 2023-08-03
- Administrators
- Arron Simon Kendall, Milan Vuceljic
- Administrators' firm
- Moorfields
- Formerly
- Yorkshire Ventures (Heworth Green) Limited
- Incorporated
- 2017-06-06
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss-making contracts / project overruns
From the administrators' statement
Attached at Appendix II is an account of the work undertaken prior to the Joint Administrators’ appointment and the costs associated with that work.
The site remediation and construction works endured significant time and cost overruns. This was due in large part to the original ground works contractor entering Administration in February 2023.
Silbury offered the Company a new facility to complete the remediation works, however the Company and Silbury were ultimately unable to agree terms. Silbury subsequently declined to provide an additional facility and, having lost confidence in the Company’s ability to complete the remediation works, advised that it would look to enforce its security.
Administrators' statement of proposals (2023-10-05) · Companies House register