NuGen Properties

Ilke Homes left behind £319m debt trail

Ilke Homes left behind £319m debt trail


Ilke Homes’ factory near Knaresborough

Latest statement of affairs for Ilke Homes, filed by the administrators from Alix Partners on 31st August, lists the dozens of companies left with unpaid debts.

Ilke Homes was a private equity-owned start-up volumetric modular house-builder that closed in June after failing to find a buyer despite claiming a £1bn order book and a 4,200-home pipeline. . More than 1,000 employees lost their jobs.

Of the creditors, only Homes England – owed £68,175,814 – holds any security, in the form of fixed and floating debentures. Homes England is, of course, a government agency, which wrongly thought that Ilke Homes would be a good punt with taxpayers money.

The administrators’ report shows that HMRC is owed £2.2m and the employees £725,000 in holiday pay and pension arrears.

Intercompany unsecured creditors amount to nearly £227m.

Companies owed more than £200,000 include recruitment firm Andersen James, Pricewaterhouse Coopers, Sunblet Rentals, Apex Wiring Solutions, Raventree (trading as Premier Kitchens) and woodworking machinery manufacturer Homag UK.

Those owed more than £300,000 include North Yorkshire County Council, chartered surveyor Landwood Group, Bryn Thomas Cranes, Jewson and City Electrical Factors.

Those left out of pocket by more than half a million include Duftons Plumbing & Heating Suppliers (£574k) and window supplier Euramax (£619k).

National timber group is owed £892,000 Modular Movements Ltd is owned £1m and Modular Plantrooms Ltd (trading as LGSF) is out of £1.6m. Wetherby Building Systems, supplier of renders and external wall insulation, is owed more than £1.8m.

Got a story? Email [email protected]



Source link


Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Google
Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

Google
NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Google
Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Google
Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Google
Great firm to communicate with fast and good quality work.