Overview:
David Kemp and Richard Hunt of Exigen Group Limited were appointed Administrators of ALN Carpentry Ltd, a housebuilding and carpentry business based in Newmarket, near Cambridge.
The Company was incorporated on 15 March 2012 and operated as part of a wider group of nine related businesses. Over the years, ALN Carpentry built a strong reputation, and worked on many new housing developments delivering carpentry projects across the region.
Despite the amount of work won, conditions in the housing market and the wider economy started to take their toll on the business. Rising interest rates, increasing build costs and a slowdown in demand for new homes made it increasingly difficult for the Company to continue trading. When a winding‑up petition was issued, professional advice was sought. This resulted in the appointment of Exigen Group Administrators on 6 February 2026.
Financial Challenges:
The Company’s financial difficulties developed gradually and were caused by several different factors, including:
- Borrowing became more expensive, increasing the cost of funding projects.
- Building materials and labour costs also increased, reducing profit margins.
- House prices lowered, and fewer people were buying, which slowed sales.
To finance different developments, the director had borrowed from a range of sources, including personal funds, which wasn’t unusual for the industry. This approach worked while the housing market was strong, but as interest rates rose and sales slowed, it became increasingly difficult for the Company to meet its commitments.
When one of the lenders began taking formal steps to recover its money, the situation became urgent, and they needed professional help to protect what was left of the business.
Exigen’s Appointment and Outcome
Administration was chosen as the most suitable option because it allowed the business to be brought under control quickly and ensured that its assets, such as properties and land, could be managed and sold in an orderly way.
At the point of appointment, the Company had:
- Two tenanted properties that needed to be sold
- Two pieces of land that the Administrators intended to sell
- Other potential assets classes, including plant and machinery
The Administrators are underway establishing what the company has, and how best to dispose of it. Given the size of the business, and number of different items to attend to, it is not a straightforward situation. The outcome for each creditor class remains uncertain at this stage.
Impact on Staff
Before the Administrators were appointed, employees had been moved to other companies within the group. As a result, there were no employees left within ALN Carpentry Ltd at the point of Administration.
Key Outcomes
- A structured plan is in place to sell the Company’s properties and land.
- The process is expected to deliver meaningful recoveries.
- Depending on final values, there may be a return to HMRC.
- Investigations are ongoing into how the group operated and how it used its assets.
Administrator Comments
David Kemp of Exigen Group said:
“Construction and housebuilding businesses have faced significant challenges in recent years. In cases like this, a complicated group structure can make matters even more difficult when economic conditions change.
By acting quickly and entering Administration, we’ve been able to stabilise the situation, protect the Company’s property assets, and work towards achieving the best outcome for everyone involved.”