Construction has ceased on all Bathla Group projects and 125 employees have been stood down as the administrator announced it had run out of funding to keep the collapsed developer operational.
Administrator Teneo said on Thursday that the short-term funding initially secured to continue construction on 13 sites had been exhausted and discussions with lenders about financial support have stopped.
Teneo administrator Stephen Longley said the focus was now on working with lenders for an orderly sale of Bathla Group’s…