Stewart Milne administration extended by a year

Stewart Milne’s administration process could take up to three years following an extension. The housebuilder was set to exit administration this month, but administrators at Teneo in December extended the process by a further year, to 7 January 2027. The company went under in January… The post Stewart Milne administration extended by a year appeared first on Construction News.

200 ex-employees of collapsed housebuilder win payout

More than 200 former Stewart Milne Group workers have been awarded compensation after being made redundant without consultation. The former employees were granted a payout worth a combined £1m, according to Thompsons Solicitors. The Aberdeen-headquartered housebuilder and developer went under in January last year after… The post 200 ex-employees of collapsed housebuilder win payout appeared first on Construction News.

Homes England recoups £9m from collapsed firm, after lending another £1.6m

Homes England recovered more than £9m it lent to the collapsed Stewart Milne Group, after loaning administrators a further £1.6m to help fund their work. Insolvency specialist BDO revealed the move in a report outlining the successful sale of four of the homebuilder’s main development… The post Homes England recoups £9m from collapsed firm, after lending another £1.6m appeared first on Construction News.

Stewart Milne went down owing supply chain £153m

So far 1,375 firms have come forward with unpaid bills

Stewart Milne owed its bank £108m at time of collapse

Housebuilder offered to 50 firms in doomed last-ditch effort to find buyer