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Carronvale Homes enter receivership

June 14 2012

Carronvale Homes enter receivership
KPMG have been appointed as receivers for Carronvale Homes by Clydesdale Bank after failing to agree a long term plan for the business.

The loss making firm hadn’t turned a profit for three years, racking up £11.6m in debt and building up a significant overdraft with its bank.

Six staff will remain in post in an attempt to sell off assets including two partially complete developments in Bathgate, Grangemouth.
The 26 year old developer also holds planning consent for 256 homes, plus q further 53 pending at sites in Cambuslang, Clackmannan, Larbert, Standburn and Tuillibody.

KPMG’s Blair Nimmo said: “The widely-publicised slowdown in the Scottish residential property market and the resulting contraction of the construction sector have led to the regrettable decision to cease trading with the loss of 15 jobs.”

Urban Realm recently compiled a 'collapse timeline' of recent construction casualties.

1 Comment

Julie Darroch
#1 Posted by Julie Darroch on 29 Oct 2014 at 13:53 PM
I have recently had problems with my boiler and due to legislation I require to have Flue Inspection Hatches fitted. Surely this should be under my NHBC agreement. The development I have a property in is Bellsmeadow Road, Falkirk. I have owned this for 7 years now. I do not feel that I should need to fork out money for this. This should come under the NHBC guidelines. It would be good if I could get some advice on this. Not only that Carronvale had Property Life in Glasgow as the factors. I am paying £70.00 per month for what, really.... the cleaners spend more time smoking outside in there little vans than anything else. As for the lift it is never used however there is constant maintenance... I really wonder what is going on. Paying £70.00 per month in Falkirk for a factor, come on. There is no grass to cut or anything. Appreciate your comment.

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