Administrators have been appointed following the collapse of Urban Splash’s modular housing joint venture with Japanese group Sekisui, which has led to at least 160 people losing their jobs.
House by Urban Splash sent staff home yesterday via a company-wide video call, with redundancies at its Derbyshire factory and sites across the country. Teneo has been appointed administrator.
The administration will not impact the wider Urban Splash group, which is led by developer Tom Bloxham. Urban Splash demerged the modular housing business in 2019, when Sekisui and Homes England invested £55m in the company.
However, Urban Splash and Sekisui still own 48% of the shares each, while Homes England owns the remaining 4%. The modular housing group rolled its 1,000th module off the production line last month.
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.
“The administrators will oversee completion and sale strategies for the company’s developments.”
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