The scale of the firm’s debts was revealed in a Companies House update by administrators Marsal Europe LLP .

Devonshire Homes went into administration in June when most of the 44 staff were made redundant.

The administration affects Devonshire Homes Limited only and does not extend to other Devonshire Homes-branded developments or associated companies.

Devonshire Homes was partly owned by the family interests of former Conservative MP David Heathcoat-Amory who signed off latest accounts for the year to September 2024 which showed the company slipped to a pre-tax loss of £137,024 on turnover of £52m, reversing profits of more than £1.2m the previous year.

The administrator’s update blamed the collapse on “challenging market conditions” with unsuccessful attempts to sell the business as a going concern from late last year.

Unsecured trade creditors are unlikely to receive a penny for their unpaid invoices.

Devonshire Homes traces its roots back to 1984 through parent company London and Devonshire Trust, which acquired Langworthy Construction in 2008 and rebranded it as Devonshire Homes. Since then, the business says it has delivered more than 2,000 homes across the South West.