Timber-frame volumetric specialists Lighthouse has fallen into administration after a bid to sell the business failed
Formerly known as IMDH, Lighthouse manufactured timber-frame volumetric modular houses, apartments and bungalows in from their Sheffield base.
A notice of intention to appoint administrators was filed last month after struggles with cashflow.
Lighthouse was initially formed to take over the assets of Ideal Modular Homes which collapsed during the pandemic.
Efforts to sell the business failed
Richard Goodall and Martyn Rickels of FRP Advisory have been appointed as joint administrators.
In a statement, FRP advisory said that “[Lighthouse] has suffered cashflow pressures in recent months and efforts to secure a sale of the business and assets has unfortunately been unsuccessful.”
FRP will now aim to “maximis[e] returns for [Lighthouse’s] creditors”.
After Lighthouse enters administration, Lighthouse’s staff will seek claims through the Redundancy Payments Service.
In the latest reported accounts, Lighthouse reported £10.5m of assets up to 30 November 2022.
