A housebuilder in Norfolk is set to be liquidated just five years after it was bailed out by a local authority.
Lion Homes, previously known as Norwich Regeneration Limited, is to be wound up after years of losses, with Norwich City Council liable to lose up to £10m.
The council is the only shareholder in Lion Homes having invested around £3.4m in the business, according to its latest accounts, and loaned it £6.1m.
No accounts have been filed by Lion Homes since the end of 2023. The previous four years of accounts show losses in the hundreds of thousands annually, ammounting to total losses of £4.4m over the period.
Companies House published a first notice for liquidation for Lion Homes in May over failure to file its accounts….