Offsite housing specialist Modpods International has been placed into administration.
All 122 staff at the Stoneleigh-based modular house builder have been made redundant.
The firm set up in 2017, delivered its first two storey, two-bedroom pod for Birmingham Municipal Housing Trust back in 2019.
It achieved a rolling 12-months turnover of around £11m and was forecasting turnover for 2024 to hit £31m.
Efforts were being made to sell the business in June prior to the administration process with a management forecast that over the next 24 months the business would deliver over 880 modules.
But no buyer could be found leading to Paul Ellison and Christopher Errington of KRE Corporate Recovery being appointed as joint administrators.
