‘It’s been a torrid time’: Modulous boss Chris Bone on the offsite housing firm’s collapse

By Matilda Battersby 2024-01-10T08:24:00

Firm latest in line of MMC firms to sink into administration

Modular housebuilder Modulous will formally enter administration today after a “devastating” race to secure more funding took it to what chief executive Chris Bone described as the “end of the cash runway”.

Bone, who said the company was £4m in debt, blamed “the vagaries of the venture capital markets”. He told Housing Today the firm had £30m of pledged funding, but when one funder pulled out and the remainder prevaricated the business “couldn’t bridge the gap”.

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