Hull holiday homes firm placed into administration

A Hull-based holiday homes firm has been placed into administration, with the loss of 43 jobs.

Custom Leisure Homes Limited, which operates as Cosalt Leisure Homes, said it had stopped trading as a result of "severe cash-flow problems".

The company, which is based at Hull's Stockholm Road, manufactured hand-build residential and holiday homes.

The firm underwent a management buyout last year. A spokeswoman said all 43 staff had been made redundant.

Insolvency and recovery company Begbies Traynor has been appointed as administrator.

Andrew MacKenzie of Begbies Traynor said: "It could be a viable business and has strong orders going forward, but unfortunately it has proved unable to restructure its operations quickly enough to overcome its immediate cash-flow problems.

"We are currently in discussions with some interested parties who recognise the value of the firm's reputation within the sector."

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