We are moving ahead with the closure of our offsite manufacturing business, LoCaL Homes.
We plan to exit the Walsall-based business in line with our strategy to simplify and strengthen and focus on our core social landlord services.
Mona Shah, our Chief Finance and Investment Officer, said: “Despite our best efforts we have not been able to secure a viable sale, and this means we must now move forward with the closure of the factory.
“While this is disappointing news, it is a necessary decision in the circumstances. As previously outlined, LoCaL Homes has been operating at a loss, and we cannot continue to subsidise this. At the same time, GSA faces a challenging financial landscape and must prioritise investment in existing homes over new development. We also have a responsibility to focus on our core offer and deliver on our vision of being a great social landlord.
“Our focus in the coming weeks and months will be on supporting the 35 colleagues who work for LoCaL Homes and working with our remaining customers as we progress the closure of the factory.”