The residential housebuilder was created when developer Urban Splash bought SIG’s modular arm for £1 in 2018, including its factory in Alfreton. The business was later split off from Urban Splash, although it remained substantially owned by Urban Splash shareholders.

Last month the company said it had built its 1,000th modular home at the Derbyshire-based factory. But joint administrator Adrian Berry of Teneo has now confirmed that the business will be selling off assets to recoup money for lenders.