Molwin Homes in administration

House builder Molwin Homes has entered administration.

The company operates in Cornwall and has completed developments in Penzance, Hayle, Truro, St Austell and Helston.

Its latest results, for the year to 31 October 2006 showed that it had an annual turnover of around £4m, making a pre-tax loss of almost £838,000.

Lee Manning and Richard Hawes were appointed joint administrators of the company and are currently marketing the remaining properties at Taylor Court in Falmouth for sale.

Molwin Homes' sister company Molwin Estates is not subject to insolvency proceedings and is continuing to trade.