Founder steps down from Arley Homes board

John Cosgrave is no longer managing director of Warrington-based Arley Homes following the appointment of administrator PwC to run the house builder.

Toby Underwood and Lyn Vardy of PricewaterhouseCoopers LLP were appointed as joint administrators of Arley Homes Limited.

Arley Homes Limited is a non-trading holding company and has no employees.

A spokesman for PwC said: "Arley Homes Limited entered into administration as part of a financial restructuring process and its subsidiary, Arley Homes North West Limited, is not affected by this process and will continue trading as usual with ongoing developments being completed as planned."

As part of this financial restructuring process Cosgrave is no longer a director of the business but remains an employee. John Bowman has been appointed as a director of Arley Homes North West Limited and consultants HRF, Gerry More and Chris Lane appointed to assist with this restructuring. More and Lane were involved in the restructuring and management of the Wolsey Residential Finance plc listed private residential housing fund, comprising the building out and retailing of 600 homes across 70 developments throughout the UK. Prior to that More was a main board director of CALA Group through its recent corporate restructure and was responsible for CALA's commercial property, mezzanine funding business and Scottish housebuilding sites. More was also a six year CBI Council member and former chair of a national housebuilding trade body.

Arley Homes was founded by former Linden Homes director John Cosgrave in 2005.