Modular specialist ilke Homes to cut staff numbers

Grant Prior 2 years ago
Share

Modular specialist ilke Homes is making staff redundant in the wake of the Covid-19 pandemic.

The cuts come just months after the company was handed a £30m loan by Homes England last November to hire more staff and ramp-up production.

It is understood around one sixth of ilke’s 600-strong workforce could be affected.

Dave Sheridan, executive chairman of ilke Homes, said: “Unfortunately, Covid-19 is forcing us to make some incredibly hard decisions right now to deal with delays to existing orders and a slow market.

“Our ability to fulfil client orders is unaffected and we have a strong pipeline, albeit we are having to work with clients to manage the impact on their own businesses.”

Last month ilke restructured with a homes and development division while also opening offices in London, Bristol and Birmingham.

Sheridan said: “The restructure we recently announced was about diversifying our business geographically and offering a turnkey development service to clients.

“Our pipeline remains strong, our funders are fully behind us and we continue to see offsite manufacturing playing a critical role in driving Britain’s recovery.”

Latest accounts for the company show it posted a pre-tax loss of £22.3m for the year to March 31 2019 on a turnover of £2.6m.

 

 

Latest news

Green light for UK’s first carbon capture power station

Keadby 3 gas power station and carbon capture to see £2.1bn investment in North Lincolnshire
4 hours ago

Unite passes union hotel job probe findings to police

Independent reports raise concerns of ‘potential criminality’ around union's £100m hotel and conference centre
17 hours ago

Berkeley to slow down investment as sales rates fall

Housing giant to focus on matching construction to demand on existing sites
4 hours ago

Competition concerns about rail signalling takeover

Hitachi’s purchase of Thales’ rail infrastructure could lead to higher fares in future, the CMA has found.
4 hours ago

Plans lodged for Manchester student tower and offices

Plans lodged for £250m One Medlock Street mixed-use office and student scheme
11 hours ago

Glasgow civil engineer banned for £100k Bounce Back Loan abuse

Sole director handed 11-year ban for falsely claiming two loans for personal gain
16 hours ago

Plans go in for 250,000 sq ft York mixed-use scheme

Local developer pushes ahead with regeneration project in heart of the city
5 hours ago

McLaren tops November contracts league

Excel exhibition centre £200m phase 3 wins lifts McLaren to pole position for contract wins last month
1 day ago

Former Wates CEO joins Mace as new financial chief

David Allen replaces Richard Bienfait who stepped down in September
1 day ago

M25 to go green under new Shell and Balfour deal

New trial of paving on UK's busiest motorway
1 day ago

Bidders wanted for £125m painting and decorating framework

Apply now for latest Fusion21 deal
1 day ago

Robertson wins first MIM-funded Welsh school job

£65m Flintshire school campus project first to use Welsh mutual investment model
1 day ago

Willmott Dixon wins £130m Broadwater Farm estate revamp

Green light for north London estate transformation
1 day ago

Materials giant CRH looks to sell contractor Farrans

More than 550 staff set to get new owner
3 days ago

West Yorkshire transport projects delayed to save £270m

Over 30 transport schemes to be placed on hold due to cost inflation budget pressure
2 days ago

Decision on A1 Costain dualling job delayed for third time

Development consent decision for £260m Northumberland scheme put back a further 9 months
2 days ago

Colas wins £140m Cheshire highways upkeep deal

Incumbent contractor Ringway will handover to Colas in April
2 days ago

Skanska to lend staff cash

Contractor links-up with finance firm to offer affordable loans to employees
2 days ago

Ilke Homes pulls off £100m record-breaking fund raise

Largest-ever capital raise by a UK modular house builder to fund expansion
3 days ago

Construction buyers fear for year ahead

"Construction companies now have a tightrope to walk in terms of being ready for recovery and cautious around investment"
3 days ago

Gove calls for competition probe into house building

Levelling Up and Regeneration Bill 'strengthened' with new measures
3 days ago

Schools get £500m for energy upgrades this winter

Extra cash found for better heating controls, insulation and energy efficient lighting
3 days ago

1,000-home North London scheme approved

Developer Hill will start work in the Spring on South Tottenham site
3 days ago

Bid race for £500m Suffolk construction framework

Construction and building services firms called up for East of England four year deal
3 days ago

Mace employs robot dog to avoid slip and trips in tunnel

Robot working in dark and hazardous conditions under Heathrow Airport
3 days ago

Administrator details confirmed at Southampton M&E firm

Begbies Traynor now in charge at Working Environments as suppliers face large losses
4 days ago

Former Galliard chief takes helm at Inland Homes

New CEO Don O'Sullivan sets out to return south east house builder to profitability
3 days ago

Applicant numbers nosedive for construction vacancies

Recruitment market gets even more competitive - how the Enquirer can help
4 days ago

Industry veteran to head Henry Bros northern arm

Peter Commins, former Kier and Balfour Beatty northern chief, to spearhead growth drive
3 days ago

Housing association shuts in-house modular factories

Swan closes loss-making steel frame and cross-laminate timber factories
4 days ago

Contractor services