David Payne Homes in administration, all staff made jobless

Bromsgrove-based house builder David Payne Homes has entered administration.

All 37 employees have lost their jobs.

Administrators from KPMG Restructuring were appointed to the 50-year-old firm on 6 February after it failed to secure sufficient funding to continue trading.

Mark Orton, joint administrator from KPMG Restructuring in Birmingham, said:

“For the time being the business will continue to trade whilst we look to evaluate the options available. There is no doubt that this sector is experiencing the full force of the current economic conditions. However, given its reputation for quality and design excellence, we are working to preserve as much of the business as we can.

“Our immediate priorities will be talking with the employees as well as contacting suppliers and people who are in the process of buying a new home from the company.”