Persimmon Offers to Fix Risky Homes as Cladding Crisis Grows

February 22, 2021 — Olivia Konotey-Ahulu - Bloomberg
Persimmon Plc, the U.K.’s biggest homebuilder, has offered to pay for work on potentially unsafe buildings in the wake of the cladding scandal that arose from London’s Grenfell Tower fire. The firm has made a provision of 75 million pounds ($104 million) in its 2020 results for any necessary repair work on 26 buildings it developed that may be affected by the issue, it said in a statement Wednesday. It no longer owns the properties and said it would provide support where owners failed to accept their legal responsibilities. “The concern around now banned cladding is affecting many thousands of homeowners who live in high-rise buildings right across the country,” Chairman Roger Devlin said in the statement. “We believe we have a clear duty to act to address this issue.” Read the full story...
Reprinted courtesy of Olivia Konotey-Ahulu, Bloomberg