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12
Jun 2023
Knaresborough housebuilder up for sale as operations paused
Bosses at Knaresborough-based Ilke Homes are “exploring a sale” of the company as hundreds of staff are sent home.
The company said in a statement today it required additional funding to fulfil a £1 billion order book and to protect jobs.
The firm added new investment was needed to build 4,200 homes.
It added it was looking to sell the firm at a time when “volatile macro-economic conditions and issues with the planning system complicate fundraising and housing delivery”.
The Stray Ferret reported on Friday that several hundred staff at its Flaxby factory close to the A1(M) were told not to come into work until further notice.
They have reportedly been told they will be paid, and will be called back in when the company finds an investor. Managers will continue to work in the 250,000 sq ft factory this week.
The company said in its statement that it operations had been paused “while a strategic review is ongoing”.
It added:
Ilke Homes specialises in building modular homes.
The company builds the homes at its factory on Flaxby Moor Industrial Estate near Knaresborough. The homes are then delivered across the UK.
Read more:
- Knaresborough housebuilder denies contravening health and safety regulations
- Knaresborough housebuilder partners with housing association
- Staff sent home as Knaresborough housebuilder seeks urgent investment
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