Credit crunch and lack of consumer confidence is blamed by administrator KPMG

Leeds-based housebuilder Consort Homes has fallen victim to the credit crunch and gone into administration.

The 拢22m-turnover company employs 46 people and has 10 development sites in Yorkshire and Scotland. It appointed KPMG as administrator yesterday.

KPMG Restructuring Partner Mark Firmin said: 鈥淪ince the onset of the credit crunch, market conditions have been difficult and the group has been a victim of the slow-down in the housing sector.

鈥淭he reduction in activity in this sector is due to the combination of a lack of consumer confidence in the property market and the limited access to mortgage funds for prospective purchasers.鈥�

Its last accounts filed at Companies House for the year ended 31 December 2006, showed the company made a pre-tax loss of 拢215,205 on turnover of 拢21.7m.

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