Winnipeg custom home building company Bentley Homes has gone broke.

Gerald Matheson, one of the company's owners, confirmed to the CBC today it is insolvent and unable to pay its debts.

"At this point, we have no financial resources to move forward," said Matheson.

Bentley Homes

Bentley Homes said it is insolvent, advising clients to contact their lawyers to try to take legal possession of their homes in case the company goes bankrupt. (CBC)

At least 20 of its clients are affected, but the company said most clients will not be out of money because the builder has only been paid for work that has been completed.

However, Bentley Homes admitted clients may end up taking on more costs than planned to finish their homes.

Bentley Homes is currently dealing with another company to sort out a plan to have the outstanding work completed at a reasonable price.

"We're seeking legal advice in terms of how to proceed but we want to help set up a process that minimizes the losses to our clients," said Matheson. "We are looking at a way to help work with a receiver and our clients and everyone concerned."

"In some capacity, we want to make sure we come up with a process to help these homes get completed," he said.

Bentley advised its clients to seek out legal representation immediately to take possession of their homes in case it files for bankruptcy.