Administration confirmed at House by Urban Splash

Grant Prior 2 months ago
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Teneo has been appointed as administrator at House by Urban Splash.

The Enquirer revealed yesterday that staff had been sent home at the modular housing business following a shock company-wide teams call.

A total of 160 staff have been made redundant at its Derbyshire factory and sites across the country.

The modular operation was demerged from regeneration giant Urban Splash in 2019 when Japan’s biggest house builder Sekisui House and Homes England invested £55m in the business.

Adrian Berry, joint administrator, said: “This appointment follows various operational issues relating to the factory in Alfreton.

“We will now look to stabilise the Urban Splash House Group by providing a platform to complete certain developments and explore sale options for the factory and the other development sites. We would like to thank all employees and other key stakeholders for their continued support.” 

A statement from Urban Splash said: “The directors of House – Urban Splash House Holdings Group – have appointed administrators from Teneo to the company. 

“The appointment of Teneo senior managing directors Adrian Berry and Daniel Smith to the company has no impact on the wider Urban Splash group or its operations, which continue to run successfully. 

“House is a joint venture between individual shareholders who own 48% of the equity, Homes England which owns 4% and Sekisui House UK Limited, which owns the remaining 48% shares.

“The administrators will oversee completion and sale strategies for the company’s developments.”

The full list of comapnies in administration is Urban Splash House Holdings Ltd, Urban Splash House Investments Ltd, Urban Splash House Ltd, Urban Splash Modular Ltd, Port Loop Holdings Ltd, Port Loop Ltd and Port Loop (Subco1) Ltd

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