THE collapse of the housing market has forced one of Doncaster's major firms to stop building new homes.
About 20 workers have lost their jobs after the building arm of Wright Investments decided to halt work at three housing developments in the borough.
The Balby-based firm has confirmed it is liquidating the building subsidiary. It says all other a
spects of the business are trading normally.
Partially completed houses and apartments at Stevens Road, Balby, at The Maltings at Barnby Dun, and Hayfield Lane, Auckley, are being mothballed until the economy improves, managing director Colin Wright confirmed today.
He said: "I've decided to shut our building company but it doesn't affect the rest of the business.
"I've been funding these sites without assistance from the banks but it got to the stage where I couldn't see things picking up soon.
"I can't keep these lads going forever. They've been with me a long time and I'll do anything I can to help them get other jobs.
"We have decided to sit on these sites until things do pick up. They were started when things were steady but the housing market situation has hit them hard.
"I've had to liquidate the building business because I couldn't put any more into it. There are some creditors but they are companies who have traded with us a long time and made a lot of money from us over the years and they won't suffer greatly. They will probably make money out of us again in the future."
Wright Investments has extensive business interests in Doncaster, including commercial property developments, storage sites, a removals business and rental properties, all of which are continuing to trade.
Jobs at those are unaffected and Mr Wright said there had been an upturn in rental business because of householders being unable to obtain mortgages.
The firm is also the main sponsor of Doncaster Rovers and their logo has received wider exposure this year since the club got to Wembley and were promoted to the Championship.
Wright Investments started up in the 1990s when Mr Wright secured land in Lincolnshire and later spread his wings to take in Doncaster.
His firm took over the former Graziano Trasmissioni engineering works in Carr Hill, and have converted it into a business and storage park.
The chief executive of Doncaster Chamber of Commerce, Stephen Shore, said: "Wright Investments is a valued patron of Doncaster Chamber of Commerce and, as such, we are saddened at the news of the demise of its building arm and the effect that will have on its employees, suppliers and customers.
"Many housebuilders have found current market conditions nearly impossible to trade in. Housebuilders cannot survive when their potential customers cannot get a mortgage.
"We have seen many construction companies mothballing sites in the region. The Wright Investment sites remain in the ownership of the parent company, and I am sure that development will recommence when conditions improve.
"The main business remains strong and that Wright Investments' other ventures and its sponsorship of Doncaster Rovers will be unaffected."
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