Inverness-based Highland housebuilder Ptarmigan Homes collapses into liquidation
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A HIGHLAND housebuilder has collapsed into liquidation barely six years after it rose from the ashes of another bust developer in the region.
Liquidators were appointed last week to handle the winding up of Ptarmigan Homes Ltd, which specialised in self-build homes.
The Inverness-based company had itself emerged from the remains of the now defunct Roy Homes back in 2017 after the latter entered administration amid serious cash flow problems.
At the time Roy Homes, which was the largest supplier of bespoke homes across the north of Scotland, and its sister timber frame company, both ceased trading with the loss of 17 jobs.
But just hours after the administrators made an announcement that someone was being sought to buy their assets, a third company - Roy Homes Developments Ltd, which shared a common management team with Roy Homes Ltd - stepped in with an offer.
This was subsequently successful, and Roy Homes Developments Ltd took on the assets before rebranding as Ptarmigan Homes.
Related: Roy Homes goes into administration
However, Ptarmigan Homes has itself also now collapsed, with Companies House confirming the "appointment of a provisional liquidator in a winding-up by the court" in documents uploaded on May 5.
The firm's most recently filed statement of its financial position, an unaudited financial statement dated March 31 last year, revealed that it owed more than £820,000 to its creditors at that time – with almost £798,000 of that being monies due within a year. This was up from a little over £550,000 owed to creditors in 2021 – of which £512,223 was due within 12 months of that date.
Visitors to its website are taken to a page stating "maintenance mode" and its social media pages on Facebook, Instagram and Twitter are no longer accessible.
