An offsite building manufacturer based in Hull has fallen into administration, despite expanding the distressed business into new areas only last year.
Modular Space Limited, which specialised in designing and constructing modular buildings for use in a wide range of sectors, including modular offices, prefabricated accommodation and modular construction site facilities, has appointed Simon Smith of Kingsbridge Corporate Solutions as the administrator.
It’s main business concerned supplying the Costain/Skanska joint venture on Crossrail and Wates. However, the manufacturer also designed and delivered prefabricated buildings for the education and healthcare sectors, as well as a range of designs for hotels, dormitories and care homes.
Just last year, Modular Space tried to position itself in the private housebuilding market with a special two-storey design that could be assembled from four basic units in as little as five hours.
It’s most recent accounts showed an annual turnover of £12 million. Around 80 staff worked from its base in Hull — a 103,000 square foot factory. It is not known what will happen to the remaining workforce.
Original link - http://www.business-sale.com/news/article/hull-offsite-specialist-falls-into-administration-38272.html
