Collapse of Highland housebuilder Ptarmigan Homes caused by supply issues, rising prices and labour shortages, says director
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SUPPLY chain issues, rising prices, labour shortages and "significant" order cancellations were responsible for the collapse of a Highland housebuilder, its director is understood to have told devastated customers.
Would-be homeowners' dreams of building their own tailor-made houses turned to nightmares last week when Ptarmigan Homes went into liquidation.
Distraught customers have been left thousands of pounds out of pocket, and in some cases have claimed to have lost their life savings as a result of the collapse.
The company has not yet responded to requests for comment. Its website was in "maintenance mode" when visited this week and its social media accounts are now defunct.
Related: Inverness-based Highland housebuilder Ptarmigan Homes collapses into liquidation
But in comments customers and contractors say its director – Martin Roy – sent to them announcing the firm's insolvency, he is understood to have cited a number of issues in the market as being responsible for the collapse and described the insolvency was "heart-breaking".
The announcement read: "I have taken the decision to cease trading of the company on April 26, 2023. As both a morally astute business and family man, this has been a personally heart-breaking decision to take.
"I am unable to allow the company to continue to trade as there is no possibility of the company recovering from its current financial position.
"The effects of supply chain issues, price increases and labour shortages on our project delivery and significant order book cancellations have resulted in the company becoming insolvent.
"I am in the process of instructing the company's legal agents to present a petition for the winding up of the company to the sheriff at Inverness Sheriff Court.
"It is expected that a provisional liquidator will be appointed shortly and they will contact you directly in due course regarding the liquidation.
"Regards, Martin."
Documents filed with Companies House, show that the winding up order and appointment of provisional liquidator duly took place on May 4.
It is not known how much money the company owed its creditors at the time of its collapse, but its most recently filed financial statement said it owed more than £800,000 at the end of March last year. This was up from £550,000 at the end of March 2021.
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