The directors requested that, Mark Firmin, Richard Fleming and, in Scotland, Blair Nimmo, from KPMG's Restructuring practice be appointed Joint Administrators over the main companies within the group. They are currently reviewing the options available to the business and intend marketing the business and assets for sale.
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Consort is a privately owned, Leeds based house builder, with a regional office in Paisley. It employs 46 people, largely in management, sales and administrative roles. The company has a turnover of £22m and has ten active development sites, all in Yorkshire and Scotland.
Joint Administrator and KPMG Restructuring Partner Mark Firmin said: "Since the onset of the credit crunch, market conditions have been difficult and the Group has been a victim of the slow-down in the housing sector.
"The reduction in activity in this sector is due to the combination of a lack of consumer confidence in the property market and the limited access to mortgage funds for prospective purchasers.
"We will be writing to all affected parties, including contractors and customers, advising them of the situation whilst we review the options for the business."
(GK/JM)
