UK housebuilder collapses into liquidation – in business since 2006 | UK | News

A UK housing developer has gone into liquidation after being in business for 20 years. Glasgow-based Woodside Homes Limited has been placed into members’ voluntary liquidation and must now settle all outstanding debts in full, which it is expected to do.

FRP Advisory was appointed as liquidator following a general meeting, according to public documents at Companies House. Shareholders agreed to a “voluntary liquidation of the company” under which a company can pay all its obligations, but the owners still choose to close the company.

The company was set up to oversee the construction of new homes in the Scottish village of Strachur, which is currently facing “significant completion delays and cost overruns”.

Filings with Companies House show Bay Homes was established in 2020 and is currently in administration.

Giuseppe Parla of Menzies LLP said this was the result of “persistent geopolitical uncertainty” as well as increasing pressure on business rates.

Construction, wholesale and retail, real estate and food and beverage sectors were all affected by high costs, tight credit and fluctuating demand.