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Housebuilder John Dickie forced into receivership

Housebuilder John Dickie forced into receivership

May 12 2010

Housebuilder John Dickie Group has been forced into receivership by the Bank of Scotland after the bank decided to pull the plug on continued support.

The move was criticised by a John Dickie spokesperson who pointed out that the company possessed only modest debt of £13m having successfully reduced overall debt by close to a third in the past year.

Dickie had remained active on three sites at Shawlands, Elderslie and Patterton but all staff were yesterday withdrawn from site.

Administrators are expected to be appointed today.

Dickie is the latest property developer to fall victim to the banks purge of heavily indebted property lending following the demise of competitors Kenmore and kilmartin.

7 Comments

#1 Posted by Auntie Nairn on 12 May 2010 at 14:16 PM

I'm sorry for those that have lost their jobs as a result of this, but if the above photograph is in any way representative of this company's contribution to the built environment, one has to wonder if they should ever have bothered in the first place.

#2 Posted by Shane Chauhan on 12 May 2010 at 20:52 PM

It's unfortunate that John Dickie are going into administration. I wonder how long the writing was on the wall though and whether this action was avoidable

#3 Posted by AB on 14 May 2010 at 14:47 PM

'Auntie Nairn' you have obviously no idea about property development. The 'above photo' as you call it is sympatheitc to other properties around it, an integral part of the planning system. I wish people like you who clearly know NOTHING about such topics in the first place would refrain from commenting. John Dickie has completed many developments both attractive and completed to an exacting standard. Don't comment on things you know little or nothing about.

#4 Posted by Uncle Nairn on 14 May 2010 at 15:32 PM

So, is what is around it banal 'pile it high' also?

#5 Posted by Auntie Nairn on 17 May 2010 at 14:03 PM

'AB' I can only assume your comments are posted in a fit of comedic irony. Having said that, the website is no longer called 'Architecture Scotland' therefore anyone who has no clue on that subject can feel free to comment.