Breaking News: Development House administrators are Quantuma Advisory
On Thursday 20 July, we informed the world at large that Development House Ltd, a company wholly owned by David Pownceby (pictured), had gone into administration.
This administration has left a good number of subcontractors and suppliers high and dry, and scrambling to get paid.
The amounts they are owed collective runs into the millions.
We have now discovered the name of the administrators. They are:
Any subcontractor or supplier owed money should write to the company as soon as possible, making it clear they were a subcontractor/supplier and are owed money. We also believe they should petition the administrator to keep the company open, as there is a plausible suspicion of wrongdoing, of which we will write more about in the coming days.
We also understand that after visiting the offices today, all Development House employees have been moved over to Sunningdale House, the mother company. Staff are currently working from home, and David Pownceby is currently abroad, so while Rome burns he sits tanning himself in Portugal.
We will be posting more on the situation in the near future.
Pownceby has been a bankrupt before and his previous companies have gone under, owing millions to unfortunate subcontractors and suppliers.
Many subcontractors and suppliers will suffer once again due to Pownceby’s company, Developments House Ltd going into administration.
Some will lose there homes and livelihoods, as happened previously.
We wish them – the subcontractors and suppliers – the best of luck in getting any money owed to them.
The Shepway Vox Team
Dissent is NOT a Crime
I have a lot of sympathy with the subcontractors and I hope they recover something from this. I trust there will be a full forensic of the accounts to see if anything untoward has occurred between connected companies/ parties and the position of insolvent trending is looked in to by the receivers which the author probably picked up on in previous articles 🤷♂️
They had not being paying subcontractors properly for a few years on the Monkton Site. So many occasions the site was empty due to trades refusing to continue. I wonder if the development at Monkton will be finished at all. Lots of issues with the buildings so there are a lot of homeowners who could find it difficult to have these remedied.