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UK housing developer enters liquidation after four years
Wolseley UK’s petition led to the appointment of two UHY Hacker Young LLP liquidators, after Companies House recorded the winding-up process in 2023.
- A notice published on September 17 confirmed that Pearcroft Homes has entered liquidation following a winding-up petition submitted by Wolseley, a plumbing and heating supplier.
- The legal process began in April 2023 when Wolseley submitted the petition, with District Judge Mantle issuing a high court closure order in October 2023.
- Before liquidation, Pearcroft claimed to be the UK's leading carbon-neutral developer, achieving average carbon emissions of-0.5 tonnes and promising "better air quality" and "intuitive energy efficiency technology."
- Liquidators Paraskevi Iacovou and Peter Kubik of UHY Hacker Young LLP were appointed on September 8, with Iacovou instructing creditors to "forward proofs of debt to me."
- Under the Insolvency Act, the statutory process aims to distribute assets to creditors in order of priority, with administration typically ending automatically after 12 months unless extended.
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