Housebuilder Mulbury Homes has gone into administration, with the loss of about 40 jobs and more than 1,000 homes currently under construction.

Mulbury Homes, which has been in business since 2010, completed schemes such as The Astley, a 14-storey apartments scheme in Great Ancoats Street a few years ago.

Andrew Knowles and Steve Clancy, both of Kroll, were appointed joint administrators of the firm yesterday.

Knowles said: “The continued difficult trading conditions, rising costs, and financial pressures as a result of bad debt has led to a weakened cashflow position which has led to the appointment of the joint administrators.

“The joint administrators are continuing with their duties following the sale, realising assets, and distributing funds to creditors as well as investigating the financial affairs of the company as part of their statutory duties.”

A statement from the Mulbury directors said: “Since we started the business in 2010, Mulbury Homes has worked in partnership with our housing clients to deliver over 2,000 homes across the North West and we are proud of our record.

“We had a strong pipeline of projects and we were hopeful for the future. However, we have not been immune to the very challenging conditions facing the construction sector brought by the pandemic, planning delays, cost increases and supply chain issues.

“We have been working tirelessly to keep the business going but the current conditions left us with no option but to call in administrators.

“We would like to thank our staff, clients, supply chain and partners for their support to Mulbury Homes in the last 12 years.”