Modern Timber Homes
Encyclopedia
Modern Timber Homes was an Irish business established in 2004 by Shaun McColgan . It built timber frame homes, roof trusses and door systems from a 30000 square feet (2,787.1 m²) premises, where it employed twenty people.
The business was located in Crossan Business Park Bonagee, Letterkenny
County Donegal
.
Funded partly by the enterprise board, the business was highly successful, employing several natives and providing much needed local income.
In 2006, the company won the main award at the National Enterprise Awards ceremony for its focus on ecologically-friendly homes. However this joy was short lived as in June 2008 the award-winning Donegal timber frame manufacturer sought protection from its creditors after running into financial difficulties. Modern Timber Homes petitioned the High Court to appoint an examiner
, in an effort to rescue the cash-strapped business. The company has liabilities of €1.5 million and was not in a position to meet its debts.
On Tuesday 4th November 2008 the company's goods were auctioned in an effort to raise money to solve debts.
The company has since gone into liquidation.
The business was located in Crossan Business Park Bonagee, Letterkenny
Letterkenny
Letterkenny , with a population of 17,568, is the largest town in County Donegal, part of the Province of Ulster in Ireland. The town is located on the River Swilly...
County Donegal
County Donegal
County Donegal is a county in Ireland. It is part of the Border Region and is also located in the province of Ulster. It is named after the town of Donegal. Donegal County Council is the local authority for the county...
.
Funded partly by the enterprise board, the business was highly successful, employing several natives and providing much needed local income.
In 2006, the company won the main award at the National Enterprise Awards ceremony for its focus on ecologically-friendly homes. However this joy was short lived as in June 2008 the award-winning Donegal timber frame manufacturer sought protection from its creditors after running into financial difficulties. Modern Timber Homes petitioned the High Court to appoint an examiner
Examinership
Examinership is a process in Irish law whereby the protection of the Court is obtained to assist the survival of a company. It allows a company to restructure with the approval of the High Court....
, in an effort to rescue the cash-strapped business. The company has liabilities of €1.5 million and was not in a position to meet its debts.
On Tuesday 4th November 2008 the company's goods were auctioned in an effort to raise money to solve debts.
The company has since gone into liquidation.