The assets of Newhaven-based modular homes specialist Boutique Modern have been acquired out of administration in a deal that enables the completion of ongoing development sites.
Phil Harris and Neville Side of FRP Advisory were appointed joint administrators of Boutique Modern Ltd on 27 October and, following appointment, completed a pre-pack sale to BM Modular Limited, a newly formed company including founding directors Neil Eckart and Lucas Shone.
Boutique Modern operated as both a main contractor and modular manufacturer across the South of England, delivering high-quality, energy-efficient homes using modern methods of construction.
The sale follows financial pressures arising from disputes relating to legacy work, which placed unsustainable strain on the firm’s cash flow. The transaction enables the ongoing delivery of affordable housing schemes.
Phil Harris, joint administrator of Boutique Modern Ltd and restructuring partner at FRP, said: “Boutique Modern has built a strong reputation for delivering sustainable, affordable housing solutions through innovative modular construction.
“While challenges arising from a historic contract created financial difficulties, this transaction secures continuity for the business, protects jobs and supports the delivery of much-needed homes across the region. We wish the team every success as they move forward under a new entity.”
