Housebuilder Merchant Homes appoints liquidators as staff made redundant

It comes as the company was given permission to build flats on land owned by Rangers FC.

Glasgow’s Merchant Homes Partnership appoints liquidators as 22 members of staff made redundant Merchant Homes

Glasgow-based housebuilder Merchant Homes Partnership has appointed provisional liquidators, with the firm’s 22 members of staff being made redundant.

Founded in 2007, the firm specialised in private and social residential housing but directors were forced to take the decision to cease trading in December.

At its peak, the company achieved a turnover of £21m but challenges over increasing costs, pressures on inflation and unforeseen delays to new contracts have been by compounded a decrease in buyer confidence.

The developer had permission from Glasgow City Council to build flats on land owned by Rangers FC with around 160 properties due to be built in the Albion car park next to Ibrox Stadium.

“Unsustainable cash flow pressures” were cited in the decision to appoint joint provisional liquidators from Opus Restructuring & Insolvency after the business said all options were exhausted to preserve employment.

Mark Harper and Steve John Parker were appointed on December 20 after directors had “no other option” but to appoint liquidators.

The liquidators say support will be given to employees through the Redundancy Payments Service when submitting redundancy claims.

It comes after Stewart Milne Group, one of the leading housebuilders in Scotland, filed for administration on Monday and made 217 jobs redundant in the process.

Mr Harper said in a statement: “For some time, the construction industry has been experiencing extreme challenges.

“The rate of failure in the sector is at its highest in over a decade, rising material costs, inflation, planning delays, and skills shortages have all contributed to the distress.”

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