<div>
  <ul>
    <li>
      <p>
        Ilke Homes, a British developer of single-family modular houses, has entered administration with its inability to find a buyer.
      </p>
    </li>
    <li>
      <p>
        This also brings an end to all site activities in its factory in North Yorkshire, making a majority of the company&rsquo;s 1,150 staff redundant.
      </p>
    </li>
    <li>
      <p>
        Meanwhile, over 80 Ilke Homes former employees have initiated legal action against their previous employer, alleging inadequate consultation regarding job terminations.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        Earlier this month, the company stated that it is 
        <a href="https://sp-edge.com/updates/19296">
          seeking financial assistance
        </a>
         after investors raised concerns about the company&rsquo;s unhealthy rate of cash burn. This comes despite raising
        <a href="https://sp-edge.com/updates/15151">
           GBP 100 million
        </a>
         (〜USD 122 million) in December last year to scale up operations and open a new facility to support manufacturing its planned 4,000 homes a year&mdash;reportedly the largest ever raised by a prefab builder based in the UK. The company also had a GBP 1 billion (~USD 1.29 billion)-worth order book of affordable homes at the time of going into administration. In 2021, US prefab developer 
        <a href="https://www.financierworldwide.com/katerra-files-for-chapter-11-bankruptcy-protection">
          Katerra also collapsed
        </a>
         after its financial position deteriorated due to macroeconomic effects of the Covid-19 pandemic and a failure to secure additional capital.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.building.co.uk/news/more-than-80-ex-employees-take-legal-action-against-ilke-homes/5123991.article#:~:text=More%20than%2080%20ex%2DIlke,made%20redundant%20with%20immediate%20effect.">
      Building.co
    </a>
  </p>
  <p>
    <a href="https://www.constructionnews.co.uk/financial/administrations/ilke-homes-enters-administration-with-around-1000-staff-facing-axe-30-06-2023/">
      Construction news
    </a>
  </p>
  <p>
  </p>
</div>


Prefab Tech

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Ilke Homes raises GBP 100 million for expansion

Ilke Homes partners with Orbit Homes to deliver sustainable prefab houses

Ilke Homes partners with Octopus Energy to build zero-energy-bill homes

Ilke Homes partners with Man GPM for a prefabricated community housing project

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