Elgin-based housebuilder Morlich Homes Ltd goes into liquidation
An independent housebuilder has gone into liquidation.
Morlich Homes Ltd, based in Elgin, has been building homes across Moray since 2010.
But a drop off in individual property sales in recent years will now see the company close for good.
Michael J M Reid, of Aberdeen-based firm MHA, will handle the business’ liquidation.
He said: “A statement of affairs and a report is going to be sent to all loan creditors probably tomorrow.
“I can tell you that the five employees will be receiving a letter tomorrow advising of their redundancy with effect from five o'clock tonight (September 23) and I can confirm that the reason for insolvency was just, as all developers are seeing, just a drop off in individual property sales at the property market.
“It’s not a sudden lack of demand, but the slowly decreasing demand over the last eight or nine months.”
Councillor Marc Macrae, Moray Council’s chair of the Economic Development and Infrastructure Services Committee, says he was “deeply saddened” to learn of the business’ closure this morning.
He added: “The company were one of many building quality homes across the region and it is disappointing to hear of any company failing in these challenging times.
“I would hope that the liquidators will be able to recover monies owed to creditors wherever possible and that the workforce are supported as much as possible to obtain suitable employment.
“Thoughts are with all those concerned as well as those who perhaps have a home partly constructed and wondering what will happen next.”
