Sponsored by
Applecross set to report loss
LUXURY housebuilder Applecross is set to report a loss for the 12 months to the end of September as the credit crunch further tightens its grip on the housing sector.
The company, headed by founders Colin Cumberland and Graham Aggett, said it had experienced a down-turn of around 60 per cent in sales volumes in recent months.
The news comes just days after property firm Gregor Shore fell into administration, putting more than 100 jobs at risk.
Earlier this year, Applecross, which is involved in a 50 million joint venture at the waterfront in Leith with ports and land owner Forth Ports, announced that it would have to slash about a quarter of its workforce in a restructuring of the business amid the credit crunch.
The firm also told The Scotsman that it was going to have to move from its luxury Edinburgh Park headquarters into a smaller office space, reflecting the lower number of staff.
Monday interview - Colin Cumberland: Still smiling through the economic gloom
Email to a friend
Print this page- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Family mourn death of Glasgow ‘fight’ schoolboy
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Saturday 26 May 2012
Today
Sunny
Temperature: 8 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 11 C to 21 C
Wind Speed: 10 mph
Wind direction: North east
