Redrow loses fight to keep sites open as supplies hit

Aaron Morby 4 years ago
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House builder Redrow has decided to close all of its sites blaming growing difficulties with its supply chain.

Redrow site earlier this week when the firm said it planned to keep key sites open
Redrow site earlier this week when the firm said it planned to keep key sites open

The firm had decided to press on with site work despite closing sales offices earlier this week.

But today its announced all sites would now be closed as it lost the struggle to keep its supply chain in place.

John Tutte, executive chairman, said it had become increasingly impractical to keep open as its supply chain had been significantly impacted in recent days.

“As a result the board has now decided to go further and commence with immediate effect, an orderly and safe closure of all of our sites and offices,” he said.

“These are unprecedented times. The actions we have announced today will give us the flexibility to manage the business through this turbulent period to ensure we are ready to resume production when it is safe to do so.

“When there is a return to normality in the supply chain, and we are satisfied it is safe for our workforce to return to work, we will reopen sites and recommence production with an initial focus on fulfilling our substantial order book that stands at £1.4bn of which £0.9bn is contracted.”

Redrow said it had submitted an application to the Bank of England for eligibility for the Government’s COVID-19 Corporate Financing Facility and was looking to use the Government’s Job Retention Scheme.

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