Scottish house builder goes under

Grant Prior 11 years ago
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Strathclyde Homes is the latest construction firm north of the border to fall into receivership with the loss of 18 jobs.

The company once boasted a turnover of £45m and 97 staff but had been racking-up debt and scaling-down operations since 2009.

It has built more than 1,100 homes across Scotland since trading started in 1990.

The Cumbernauld-based firm is now in the hands of receivers from Deloitte who are selling-off its assets.

Strathclyde Homes has also been the title sponsor of Dumbarton Football Club’s stadium since 2001.

It is unclear whether the name of the stadium will change.

Strathclyde had three developments on the go at the time of its collapse in Clydebank, Bathgate and Fauldhouse.

John Reid, partner in the restructuring team at Deloitte, told the Scotsman: “The housing market remains subdued which has unfortunately resulted in Strathclyde Homes being unable to continue trading as a viable business.

“Our priority now is to ensure we realise maximum value from the company’s assets”.

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