Wednesday 18 January 2017

Seven UK McInerney firms in trouble

Published 05/04/2011 | 05:00

KPMG was yesterday appointed administrator to seven companies within the UK arm of the McInerney Holdings group, at the request of the company's directors.

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The seven companies in administration comprise McInerney Group Limited; McInerney Homes Limited; Alexander Developments (North East) Limited; Lancing Homes Limited; Gold Homes (The Wave) Limited; William Hargreaves Limited; and Bowey Homes Limited.

Between them, the seven companies employ a total of 161 staff and are responsible for 32 private development sites, together with a number of social and commercial housing development projects, said KPMG.

The administrators intend to transfer a number of the private development sites to a solvent entity within the group to allow these sites to be developed with the aim of maximising the return to creditors.

The joint administrators have also agreed in principle with a number of the former McInerney Homes management team to acquire the social housing business.

There have been 14 redundancies and the administrators are now conducting a consultation process with the remaining employees.

Irish Independent

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