Carronvale Homes enter receivership
June 14 2012
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.
Back to June 2012
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