What happened
PIPER HOMES PLC (company number 09753874), incorporated in 2015, entered administration on 5 June 2024. Its status at Companies House is now: administration.
Why it failed
Falling housing demand, higher interest rates, build costs c.23% over appraisals and planning delays put the group in default of its lender facility; a winding-up petition triggered administration.
- Main reason: Market downturn
- Cost inflation
- Delays
- Funding withdrawn
- Cash flow
- Group company failed
Our summary of the reasons given in the administrators' proposals. These record the administrators' and directors' account of what happened.
An administrator, a licensed insolvency practitioner, takes control of the company to try to rescue it, sell the business or get a better result for creditors than a liquidation.
Previously known as: PIPER HOMES LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 December 2022
Last accounts filed were made up to this date
18 months later
5 June 2024
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to unsecured creditors (estimated), Administrators' proposals
- £522k
- a further £5.7m owed to its lenders. Expected return to unsecured creditors: none expected
- Administrators' proposals
The last accounts filed were full accounts made up to 31 December 2022, 17 months before it went into administration.
The full filing history, including any late filings, charges and director changes, is on Companies House.
Lessons learned report
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