A UK housebuilder has plunged into administration, leaving homes unfinished and debts of over £4 million. Scotland-based Hood Property Cardrona Limited collapsed and may now have to sell its land near Peebles in the Scottish Borders, The Herald reports.
Administrators had to “forcibly gain entry” to the site for 20 homes, where offers have already been accepted on “several” of the properties. However, more funding is needed “to finish building the properties and complete the development”, administrators said in an update, noting a “significant shortfall” in funds owed.
The company was building homes in Scotland. (Image: Getty)
James Stephen and Kerry Bailey of BDO have been appointed joint administrators and extended the administration…