TopHat has opened a consultation with its staff as it plans to make around 70 redundancies to cut costs.

The modular developer, which posted a £20.4m pre-tax loss for the year to 31 October 2022, has plans to increase its capacity to 4,500 homes. It intends to open a second factory, a 650,000 sq ft facility in Corby Northamption this year to complement its existing factory in Derby.