David Chubb and Graham Frost of PwC were appointed joint administrators of Archial Group PLC (“the Group”) and certain subsidiaries on 21 September 2010.
The Group is an architectural business with public and private sector clients in the commercial, corporate, education, health, leisure, nuclear, residential, retail and transport industries. The Group currently employs 400 people in the UK and overseas and is delivering projects throughout the UK, Asia, India, the Middle East, Europe and North America.
David Chubb, joint administrator and partner at PwC said:
“In response to changes in market conditions, Archial Group PLC had taken a number of steps to improve operations and to develop a sustainable and profitable business going forward. However, due to difficulties in meeting the group’s financial obligations, the directors have concluded that various companies in the Group, including Archial Architects Limited and Alsop Sparch Limited, should be placed into administration to protect the business and assets.
“The joint Administrators will be seeking a rapid sale of the business as a going concern to achieve the maximum realisations for the creditors of the Group.”
Archial made several acquisitions in 2007 including the Edinburgh firms of Hugh Martin & Partners, Parr Architects along with Jenkins & Marr.