‘It’s been a torrid time’: Modulous boss Chris Bone on the offsite housing firm’s collapse

chris bone

Firm latest in line of MMC firms to sink into administration

Modular housebuilder Modulous will formally enter administration today after a “devastating” race to secure more funding took it to what chief executive Chris Bone described as the “end of the cash runway”.

Bone, who said the company was £4m in debt, blamed “the vagaries of the venture capital markets”. He told Housing Today the firm had £30m of pledged funding, but when one funder pulled out and the remainder prevaricated the business “couldn’t bridge the gap”.

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