Mark Harper and Steven John Parker from Opus Restructuring & Insolvency have been appointed joint provisional liquidators to Merchant Homes Partnerships Ltd.
The company, established in 2007 by Alan Brander and Linda McLuskie, specialised in private and social residential housing, and at its peak achieved 拢21m turnover.
The liquidators said that current trading conditions had proved to be 鈥減articularly challenging鈥� with increasing costs, inflationary pressures, unforeseen delays to new contracts and a general downturn in buyer confidence across the sector resulting from the rise in interest rates.
As cash flow pressures became unsustainable, the directors explored options to save the business but concluded that there was no viable alternative to giving up. The provisional liquidators were appointed on 20th December.
Joint provisional liquidator Mark Harper said 鈥淔or some time, the construction industry has been experiencing extreme challenges. The rate of failure in the sector is at its highest in over a decade, rising material costs, inflation, planning delays, and skills shortages have all contributed to the distress.鈥�
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