Stewart Milne appoints administrators

Housebuilder Stewart Milne Homes appointed administrators yesterday (8th January), with the group consequently ceasing trading.

Adele Macleod, Gavin Park and Matt Smith at Teneo were appointed as the administrators of Sewart Milne Group LTD and Stewart Milne Homes North West England LTD.

A statement released by the firm noted that all sums due by the group will rank as an unsecured claim in the administration of the relevant company. 

Adele commented: "The downturn in the UK housing market combined with an extensive sales process not resulting in any viable offers has ultimately led to the need for the directors to place Stewart Milne Group Limited and some of its subsidiaries into administration, regretfully with some immediate redundancies.”

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