Home builder to cease trading after recording a £14m loss

BURRINGTON ESTATES BLAMES TRADING DIFFICULTIES

- WILLIAM TELFORD

SOUTH West construction firm Burrington Estates is to cease trading, after making a £14 million pretax loss.

The company, which builds and sells houses across the West Country and the Midlands, will complete the projects it is working on, sell off undeveloped sites, and wind up the business.

Directors blamed “increasingly difficult trading conditions” and an uncertain UK housing market, partly fuelled by rising interest rates. They also put the blame on the cost-of-living crisis and the war in Ukraine. The wider Burrington Estates Group, however, is unaffected to include its interest in Exeter’s Winslade Park.

David Jervis, director, said: “After looking at a range of options for the future of the business, including its ownership and markets, the directors reluctantly agreed in 2023 that the business would complete its committed project to its recognised high standard and would thereafter cease trading and commence an orderly wind-down of the business. The directors would like to thank all its customers, supply chain, staff, and funders for their continued support during this period.”