Established British construction and property development business, Henry Boot PLC has today announced the voluntary liquidation of its new homebuilder division, Starfish Commercial.
Following the company’s interim results posted earlier in the year – which Henry Boot announced that Starfish Commercial was ‘not performing in line with expectations’.
The PLC today announced on the London Stock Exchange its plans to enter Starfish into voluntary liquidation.
COVID 19’s initial impact significantly damage Henry Boots’ construction division, but while the business did experience a downturn, the PLC has reported that construction is now at “over 90% of pre-CV-19 levels.”
Unfortunately, Starfish Commercial has not seen the same level of recovery, with the PLC admitting that “there is no visibility as to when it might reach a sustainable level.”
Despite the voluntary liquidation, Henry Boots states: “Affordable Housing is still a market of interest, and we will continue to pursue our interest in this sector, but this will now be part of the overall services offered by our construction business.”
Commercial People have contacted Henry Boots for more information regarding job losses.