{"id":138712,"date":"2024-04-12T13:03:28","date_gmt":"2024-04-12T12:03:28","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=138712"},"modified":"2024-04-12T13:03:28","modified_gmt":"2024-04-12T12:03:28","slug":"113-jobs-lost-lighthouse-falls-into-administration","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/mmc-news\/113-jobs-lost-lighthouse-falls-into-administration\/138712\/","title":{"rendered":"113 jobs lost as Lighthouse falls into administration"},"content":{"rendered":"

Timber-frame volumetric specialists Lighthouse has fallen into administration after a bid to sell the business failed<\/h2>\n

Formerly known as IMDH, Lighthouse manufactured timber-frame volumetric modular houses<\/a>, apartments and bungalows in from their Sheffield base.<\/p>\n

A notice of intention to appoint administrators was filed last month after struggles with cashflow.<\/p>\n

Lighthouse was initially formed to take over the assets of Ideal Modular Homes which collapsed during the pandemic.<\/p>\n

Efforts to sell the business failed<\/h3>\n

Richard Goodall and Martyn Rickels of FRP Advisory<\/a> have been appointed as joint administrators.<\/p>\n

In a statement, FRP advisory said that \u201c[Lighthouse] has suffered cashflow pressures in recent months and efforts to secure a sale of the business and assets has unfortunately been unsuccessful.\u201d<\/p>\n

FRP will now aim to \u201cmaximis[e] returns for [Lighthouse\u2019s] creditors\u201d.<\/p>\n

After Lighthouse enters administration, Lighthouse’s staff will seek claims through the Redundancy Payments Service.<\/p>\n

In the latest reported accounts, Lighthouse reported \u00a310.5m of assets up to 30 November 2022.<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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