Oakdene Homes, the listed housebuilder, is on the brink of collapse.
The company’s shares were suspended this afternoon at 9.125 ‘pending clarification of its financial position’.
It revealed last September that it was in breach of its covenants with its lenders and was relying on a temporary facility, but that discussions were ongoing with its lenders around its future banking terms.
However, it has not been able to agree terms with its lenders and they have served notice on the company to repay the outstanding facilities.
