A property company behind an apartment block in Manchester city centre has entered administration.
DeTrafford Sky Gardens has appointed BDO to oversee the process, according to a document filed with The Gazette.
The company was behind the 13-storey Sky Gardens development in Chester Road which includes 166 flats.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
It is the fourth DeTrafford company to enter administration after St George’s Gardens, City Gardens and Wavelength.
The company behind St George’s Gardens, an 11-storey apartment building that includes 138 flats and was completed in 2020, owed almost £50m when it entered administration.
In October 2022, investors in the £99m Wavelength project to build more than 400 apartments in Salford Quays were warned they might not receive their full deposits back after the company behind the scheme entered administration.
A spokesperson for the joint administrators said: "Due to the wider economic challenges, Sky Gardens faced difficulties in realising the remaining unsold apartments.
Most Read
"We will now be taking all necessary steps to maximise returns for the benefit of all creditors in accordance with our legal duties."
READ MORE:
Steven Bartlett invests in youngest solo pitcher on Dragons' Den
'Stretched and squeezed' school budgets hit textbook publisher
VR entertainment group Immotion agrees $25m deal as it plans to hand shareholders millions
Job cuts expected at global cyber security firm NCC Group due to 'current market conditions'