Nexus Infrastructure PLC on Wednesday said it was in discussions with ilke Homes Ltd, after noting media coverage on the latter filing a notice of intention to appoint an administrator.
Shares in Nexus closed down 9.5% to 147.50 pence each in London on Wednesday.
ilke Homes is a customer of the Braintree, England-based civil engineering infrastructure services provider’s Tamdown division with two developments, both of which have been paused by ilke Homes.
Nexus said Tamdown has been in discussions with ilke Homes regarding the situation and the outstanding invoices due regarding the two sites.
As at the date of this announcement, the total amount overdue from ilke Homes to Tamdown is approximately £835,000, Nexus said.
In addition, a further amount of approximately £962,000 will be due shortly for work delivered up to the end of May, alongside further work in progress in the region of £250,000, relating to the period in June prior to work on the sites being paused by ilke Homes.
‘Given today’s developments regarding a potential administration of ilke Homes, there is a risk that Tamdown will be unable to collect these amounts, which would have a significant impact on Group profit during the current financial year financial 2023,’ Nexus said in a statement.
‘Tamdown will continue to work with ilke Homes with a view to recovering the amounts due, and Nexus will update the market in due course when the situation is more certain.’
Copyright 2023 Alliance News Ltd. All Rights Reserved.