Modular housebuilder Ilke is in a race to pull in further funding in the next month or see its auditors draw attention to financial risks in the business when it publishes its latest accounts.

The £28m turnover firm, which is more than two months late in filing its accounts, has been told by auditors that the current economic environment means it needs more funding than previously expected to get a financial clean bill of health, despite closing a £100m fundraising in December.

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