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Norwich Council to Liquidate Housing Firm After £5M Loss

7/4/2025

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Summary

Story summary

Norwich City Council is set to dissolve its housing firm, Lion Homes, following a staggering £5 million loss over five years. Founded in 2015 to tackle the affordable housing crisis, the company faced financial turmoil, prompting a £6 million bailout in 2020. A crucial cabinet vote on its liquidation is slated for July 9.

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Story summary

Norwich City Council is set to dissolve its housing firm, Lion Homes, following a staggering £5 million loss over five years. Founded in 2015 to tackle the affordable housing crisis, the company faced financial turmoil, prompting a £6 million bailout in 2020. A crucial cabinet vote on its liquidation is slated for July 9.