160 employees have been made redundant as House by Urban Splash goes into administration - with administrators Adrian Berry and Daniel Smith from Teneo appointed.
Operational issues relating to its Derbyshire factory are to blame.
House is a joint venture between individual shareholders (48%), Homes England (4%) and Sekisui House UK Limited (48%). This has been the case since 2019 when House demerged from Ubran Splash, when the latter two shareholders invested £55m into the business.
Adrian Berry said: “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.”
According to Urban Splash in a statement, ''This event has no impact on the wider Urban Splash group or its operations, which continue to run successfully''.
The full list of companies in administration is Urban Splash House Holdings Ltd, Urban Splash House Investments Ltd, Urban Splash House Ltd, Urban Splash Modular Ltd, Port Loop Holdings Ltd, Port Loop Ltd and Port Loop (Subco1) Ltd.