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Homes England speaks out after Urban Splash joint venture collapses and cuts 160 jobs

Homes England has spoken out after a three way partnership it was concerned in entered administration with the lack of 160 jobs.

Urban Splash and Sekisui Home UK, a subsidiary of the Japan-based Sekisui, every personal 48% of the shares within the US Home Group with Homes England holding the remaining 4%.

The group owns a variety of improvement websites and a modular constructing manufacturing unit in Alfreton, Derbyshire.

READ MORE: Urban Splash three way partnership enters administration with 160 individuals made redundant

Its modular houses have been used on websites similar to Wirral Waters and New Islington in Manchester.

BusinessLive reported on Thursday that Daniel Smith and Adrian Berry of Teneo Monetary Advisory Restricted had been appointed as joint directors of Urban Splash Home Holdings Ltd, Urban Splash Home Investments Ltd, Urban Splash Home Ltd, Urban Splash Modular Ltd, Port Loop Holdings Ltd, Port Loop Ltd and Port Loop (Subco1) Ltd.

Teneo has lately accomplished the sale of Studio Retail Group out of administration and been appointed by Missguided to “explore strategic options for the business”.

US Modular Ltd had 151 staff on the manufacturing unit at Alfreton and 140 have been made redundant.

US Home Holdings Ltd employed 36 individuals and 20 have been made redundant.

Teneo will now oversee completion and/or sale methods for the event websites, whereas exploring sale choices for the manufacturing unit.

A spokesperson for Homes England mentioned: “We are aware that an administrator has been appointed.

“We stay dedicated to working with bold and progressive companions to assist diversify the housing market and improve productiveness.”

An Urban Splash statement added: “The administrators of Home – (Urban Splash Home Holdings Group) have appointed directors from Teneo to the corporate.

“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.

“Home is a three way partnership between particular person shareholders who personal 48% of the fairness, Homes England which owns 4% and Sekisui Home UK Restricted, which owns the remaining 48% shares.

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

Joint administrator Adrian Berry mentioned: “This appointment follows various operational issues relating to the factory in Alfreton, which have impacted the wider group.

“We’ll now look to stabilise the US Home Group by offering a platform to finish sure developments and discover sale choices for the manufacturing unit and the opposite improvement websites.

“We would like to thank all employees and other key stakeholders for their continued support.”

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