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Mon October 26 2020

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McInerney shares suspended

27 Aug 10 McInerney Homes' shares have been suspended.

McInerney Homes' shares have been suspended.

The house builder, which constructs homes in the Republic of Ireland and the UK, issued a statement to the London Stock Exchange, saying the Financial Services Authority had temporarily suspended its shares at the request of McInerney “pending clarification of the company's financial position”.

It is thought that McInerney is restructuring its debt ahead of receiving new investment.

US private equity firm Oaktree Capital wants to inject £33m into the house builder, according to the Financial Times.

McInerney has been struggling under a £194m debt mountain since the UK and Irish housing markets crashed in 2008.

The firm lost £25m on revenue of £149m during 2009.

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