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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 joint venture it was involved in entered administration with the loss of 160 jobs.

Urban Splash and Sekisui House UK, a subsidiary of the Japan-based Sekisui, each own 48% of the shares in the US House Group with Homes England holding the remaining 4%.

The group owns a number of development sites and a modular building factory in Alfreton, Derbyshire.

READ MORE: Urban Splash joint venture enters administration with 160 people made redundant

Its modular homes have been used on sites such as Wirral Waters and New Islington in Manchester.

BusinessLive reported on Thursday that Daniel Smith and Adrian Berry of Teneo Financial Advisory Limited had been appointed as joint administrators of 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.

Teneo has recently completed 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 employees at the factory at Alfreton and 140 have been made redundant.

US House Holdings Ltd employed 36 people and 20 have been made redundant.

Teneo will now oversee completion and/or sale strategies for the development sites, while exploring sale options for the factory.

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

“We remain committed to working with ambitious and innovative partners to help diversify the housing market and increase productivity.”

An Urban Splash statement added: “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.

“House is a joint venture between individual shareholders who own 48% of the equity, Homes England which owns 4% and Sekisui House UK Limited, which owns the remaining 48% shares.

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

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

“We will now look to stabilise the US 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.”

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