Modular builder TopHat has avoided being wound up after agreeing a deal with one of its creditors.
Developer Harworth filed winding-up petitions against two TopHat entities on 2 August, which were heard at the High Court in Leeds yesterday (13 August). Both parties have agreed to dismiss the case, Construction News understands.
The petitions, which if successful would have forced the company into liquidation, were registered against Jersey-based parent company TopHat Enterprises Ltd and subsidiary TopHat Communities Ltd, which installs the modules.
Winding-up petitions are considered a last-resort attempt by firms owed more than £750 to retrieve their cash.
The volumetric housebuilder has had a rough start to the year. It mothballed a…
