What Ashley House does
The company’s modular construction arm F1 Modular recently went into administration.
How it's doing
In April, Ashley House said it is still seeking the funding it needs to meet its ongoing working capital requirements and to support its affordable housing strategy, while it continues to urgently pursue legal remedies to recover long overdue receivables in excess of £1mln.
Discussions are underway with potential equity investors, although difficulties and uncertainty caused by the Covid-19 pandemic is inevitably causing delay both to the potential equity raise and to trading in general, Ashley House said in a statement.
The company is seeking support from its bankers under the Coronavirus Business Interruption Loan Scheme. If ultimately unsuccessful or not achieved in timely fashion and in the absence of other sources of funding, the company will not be able to continue to trade.
- Recovery of money owed by debtor
- Facing closure unless it raises more funds through coronavirus support scheme