Hopes are rising that hundreds of jobs can be saved at a North Yorkshire housebuilder.

Production has been halted at the ilke homes factory in Flaxby, near Knaresborough, with staff sent home.

The company announced last weekend this was to seek investors as it sought to safeguard the business and deliver its £1bn order book of mainly affordable homes.

It is understood major housebuilders have been approached, including Barratt, Bellway and Taylor Wimpey, as it seeks bids of over £1 for the business.

A deadline of the end of next week has been reported in the trade press for offers, when the future of the modular housebuilder will be settled.

'Hundreds' at home as Ilke Homes of Knaresborough is up for sale

Ilke Homes has a client base including major institutional investors, housing associations, housebuilders and local councils.

Last December, the company announced it raised a record-breaking £100m from news and existing shareholders.

This followed a £60m injection in November 2021, thanks to a £30m loan from government agency Homes England and £30m of equity from investors.

An ilke spokesman told the Press: “We are in conversation with about 15 potential investors. The talks are all at various stages. Things are looking a whole lot more promising than at the start of the week.”