McInerney Homes owes £141m to subcontractors

Grant Prior 13 years ago
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The fall of McInerney into administration has left trade creditors holding worthless invoices worth more than £141m.

A report from administrator KMPG has confirmed the huge trade debt with more than 700 subcontractors and suppliers unlikely to see a penny of the cash owed to them.

The report lists hundreds of firms doing business with McInerney across the midlands and north of England when the company went down last month.

The report states: “It is unlikely that there will be sufficient funds available to enable a distribution to unsecured creditors.”

For a full list of companies owed cash click here

KMPG is handling the administration of seven firms in the group: McInerney Group Limited; McInerney Homes Limited; Alexander Developments (North East) Limited; Lancing Homes Limited; Gold Homes (The Wave) Limited; William Hargreaves Limited and Bowey Homes Limited.

The companies employed 155 staff before their collapse and McInerney Homes was working on 21 developments.

Ten of those have been transferred to Miller Homes who are also considering taking-on the remaining sites.

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