A British construction company has gone into administration, causing delays in home construction and debts exceeding £4 million. Hood Property Cardrona Limited, based in Scotland, has entered administration and may be required to sell its land near Peebles in the Scottish Borders. Administrators had to forcefully enter the site of the 20-house development to assess the situation, as some properties had already received offers. Additional funding would have been necessary to complete the construction. James Stephen and Kerry Bailey from BDO have been appointed as joint administrators, extending the administration period until September. The administrators had to enforce entry to the development site for assessment and security measures. A sale of the property is in progress and expected to conclude soon. HMRC has lodged a claim for £4,684, with creditors being owed an additional £300,000, but the payment status remains uncertain. Unsecured creditors might not receive a dividend, according to the administrators.