ilke Homes Limited - Case Update

Catherine Williamson, Deborah King and Clare Kennedy of AlixPartners, the joint administrators of ilke Homes, have released their final progress report to creditors detailing a theft at the company’s Flaxby factory and its subsequent liquidation.

The company leases premises known as Maximus at Flaxby Moor Industrial Estate, Knaresborough, including a large factory and office space. It remained in possession of the site until 22 September to allow the administrators’ agents sufficient time to conduct a sales process of certain assets located at the premises.

On 19 August, the administrators were made aware that trespassers had gained access to the Flaxby factory, cutting through several secured gates to enter with various vehicles. Despite the attendance of the police and the administrators’ agents, the group refused to leave the premises. That evening, the administrators’ agents managed to gain access to the buildings and learned that certain equipment was missing.

On 20 August, an eviction notice was served to the group. Attempts to search the group’s vehicles for the missing equipment was unsuccessful, and the group left in its entirety that evening. The joint administrators have arranged for increased security and police presence at the site, and have made an insurance claim in respect of the stolen property.

On 18 September, it was ordered that the company be wound up, and Catherine Williamson and Clare Kennedy of AlixPartners were appointed as joint liquidators. Secured creditor Homes England is expected to receive a nominal distribution.

The joint administrators have been assisted by Kirkland & Ellis and Macfarlanes (legal advice), Hilco (valuation and disposal advice), Naismiths (debtor recovery) and CBRE (land sales), among others. Their final progress report can be found HERE.