Lloyds Bank raises hopes £53m Sheffield flats will be finished after developer goes bust
Builders on the 17-storey tower, home to 234 flats, were sent home
Lloyds has raised hopes a Sheffield block of flats will be finished despite the developer going bust.
The bank said it was working closely with stakeholders on Hollis Croft on Tenter Street.
It comes after Leeds-based Torsion Construction was declared insolvent - unable to pay its bills - and put into administration with the loss of 115 jobs.
Builders on the 17-storey tower, home to 234 flats, were sent home.
The development was being funded by the Housing Growth Partnership, which is backed by Lloyds Bank and Homes England.
Administrator James Clark, of Interpath, said HGP had taken control of the site and was in the process of engaging another construction company, aiming to avoid a “big break” in activity.
Homes England said the Hollis Croft project was set up as a joint venture with Lloyds and run by Lloyds.
There had been three rounds of funding but the last one was brought forward by Lloyds alone, they added.
A Lloyds spokesperson said: “We are working closely with all stakeholders.”
But arrangements were confidential “so we can’t comment.”
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