OVER 120 people have been made redundant after a Coventry modular housebuilder entered administration.
Modpods International went into administration on August, 12 due to the struggle with rising costs and relocation issues.
Paul Ellison and Christopher Errington of KRE Corporate Recovery were appointed as joint administrators.
The company tried to sell the business before going into administration, but it couldn’t find a buyer.
On July, 11, all 122 employees were made redundant and the administrators have now completed a pre-pack sale of the company’s assets to HPG Developments.
Modpods specialised in designing and constructing modular buildings, cited the costly and prolonged relocation of its trading premises as a key factor in its insolvency.
This, coupled with a client dispute and challenging trading conditions, severely impacted the company’s cash flow.
