Following news that the company Phi Capital Investments has gone into administration, Thurrock Council has issued the following statement.
Cllr Mark Hooper, Cabinet Member for Health and Wellbeing, including housing, said: “Like most councils, Thurrock has an eye-wateringly long list of local people waiting for a council home, with many more in desperate need of urgent help. It is my priority as cabinet member for housing to seize every opportunity to provide more homes for local residents.
“We have worked with Phi Capital over the last 5 years on a number of projects, which have resulted in the council acquiring 190 properties which are now being used to provide temporary accommodation and to help alleviate pressure on the council’s housing service. This is a huge achievement which has life-changing impacts on families and individuals in need.
“This week Phi Capital went into administration. The first we heard of this was when news emerged of an HMRC petition against the company for unpaid taxes. We were disappointed that as a client of Phi, we weren’t alerted to this in advance, and we have spent the last few weeks reviewing our arrangements with them to limit any impact of their situation on Thurrock.
“I am pleased to confirm that our review has concluded that the impact of Phi’s current situation will be negligible. We have paused all work with them, and are actively working on plans to deliver the latest tranche of homes in a different way. As these homes are reliant on Government funding with strict conditions attached, we are in discussion with the Ministry for Housing, Communities and Local Government, to find a positive way forward.”