41 jobs lost as Shrewsbury property developer put into administration
A Shrewsbury property developer was today placed into administration with the loss of 41 jobs.
Saxonby (Affordable Housing) Limited has entered administration, with the appointment of Rajnesh Mittal and Steven Stokes, partners at specialist business advisory firm FRP Advisory LLP, as joint administrators.
Saxonby (Affordable Housing) Limited is a residential housing developer specialising in affordable housing. The company has been trading since 2008 and is a part of the Saxonby group of companies. All other companies in the group are unaffected and continue to trade as normal.
Joint administrator Rajnesh Mittall said: “Unfortunately due to cash flow pressures, Saxonby (Affordable Housing) Limited has been forced into administration. The financial position of the company has meant that we have had to make 41 members of staff redundant today.
“We are currently evaluating the options to sell all or parts of the company and offering support and guidance to those who have sadly been made redundant.”
Work at all of the company's live construction sites has been paused while administrators explore the options for the company.
Interested parties or suppliers seeking further information should email cp.birmingham@frpadvisory.com
