Scottish-based self-build homes firm Roy Homes has gone into administration, with 17 jobs lost following serious cash flow problems
Inverness-based self-build company Roy Homes Ltd has gone into administration. The firm and its sister company Roy Homes Timber Frame Ltd ceased trading this week, reporting it had suffered “serious cash flow problems”.
The firm, which has been trading since 1979, supplies bespoke timber homes from the design to the build phase. It is the largest supplier of self-build properties across the North of Scotland.
Sister company Roy Timber Frame Ltd has a shorter history, having launched in 2011. The subsidiary supplied timber frame kits to Roy Homes and helped hundreds of customers plan, design, and build their own property.
Administrators called in
FRP Advisory have been brought in as administrators for the firm and will make claims to the Insolvency Service for arrears of pay, payment in lieu of notice of redundancy and holiday pay. As a result of the firm folding 17 members of staff have been made redundant.
Joint administrator and partner with FRP Advisory Iain Fraser said: “The Roy Homes brand is a well-known across Scotland, and is highly regarded for the quality of designs, construction and full service package.
“Unfortunately, the businesses ran into severe financial problems and administration was the only option.
“The self-build market is expanding rapidly across the UK and we are hopeful that there will be strong interest in the assets of these well-known businesses.
“We would ask that interested parties contact the Aberdeen office of FRP Advisory.”
Challenges in the Scottish construction sector
Reports from earlier this week suggested the Scottish construction is performing well, but faces numerous difficulties ahead. The Federation of Master Builders’ latest State of Trade survey warned that while the latest Scottish construction figures were “encouraging” and show an “underlying resilience” numerous challenges remain.
