Scottish house builder goes under
Published: 19 August, 2011
CUMBERNAULD: Strathclyde Homes is in receivership. At its height in 2009 the company turned over £45m with 97 staff but had been racking-up debt and scaling-down operations since. It has built more than 1,100 homes in Scotland since trading started in 1990.
The Cumbernauld-based firm is now in the hands of receivers from Deloitte who are selling its assets. Strathclyde Homes has also been the title sponsor of Dumbarton Football Club's stadium since 2001.
Strathclyde had three developments on the go at the time of its collapse in Clydebank, Bathgate and Fauldhouse.
John Reid, partner in the restructuring team at Deloitte, told the Scotsman: "The housing market remains subdued which has unfortunately resulted in Strathclyde Homes being unable to continue trading as a viable business.
"Our priority now is to ensure we realise maximum value from the company's assets".