{"id":50033,"date":"2018-12-10T13:49:14","date_gmt":"2018-12-10T13:49:14","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=50033"},"modified":"2019-02-28T10:06:27","modified_gmt":"2019-02-28T10:06:27","slug":"modular-housing-specialist-administration","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/mmc-news\/modular-housing-specialist-administration\/50033\/","title":{"rendered":"Modular housing specialist goes into administration"},"content":{"rendered":"

Eco-friendly Highland construction business, Carbon Dynamic, has gone into administration following ongoing cashflow issues<\/h2>\n

Carbon Dynamic, which specialised in low-energy pre-fabricated homes<\/a> and commercial buildings, appointed KPMG<\/a> restructuring experts Geoff Jacobs and Blair Nimmo after experiencing cashflow problems.<\/p>\n

The company, which was founded in 2012 and was predicting to turnover \u00a36m in the year to May 2019, previously received grant and loan funding from Royal Bank of\u00a0Scotland<\/a>-backed Scottish Edge<\/a> as well as a \u00a31.2m grant from government agency Innovate UK<\/a>.<\/p>\n

Two years ago it raised \u00a387,000 from 51 investors on the Crowd2Fund<\/a> peer-to-peer lending site, with investors promised an interest rate of 9% over three years.<\/p>\n

In June Carbon Dynamic secured \u00a3400,000 of backing from Centrica Innovations<\/a>, a business incubator set up by energy company Centrica.<\/p>\n

The company was close to completing a project for the construction of 78 buildings.<\/p>\n

Nimmo said that, while all but two of Carbon Dynamic\u2019s 42-strong workforce have been laid off, the intention is to try to find a buyer that could complete the work.<\/p>\n

The administrator said: \u201cUnfortunately, Carbon Dynamic was unable to continue trading in light of challenging conditions and significant cashflow difficulties.<\/p>\n

\u201cWe are rapidly exploring the possibility of securing a sale of the company\u2019s business and assets.\u201d<\/p>\n

The assets being sold by the administrators include the company\u2019s intellectual property, unfinished building work, order and customer books, and stock.<\/p>\n

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

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