Mon, 12 Sep 2011 | ADMINISTRATION
Sustainable architecture company, Browne Smith Baker (BSB), has entered administration, prompting a sale of all the company's assets.
The company, which has worked comprehensively in the North East of England and Yorkshire, called in administrators last week, according to Bdaily Business Network, after no longer being able to sustain itself, following a sharp drop in turnover.
Joe McLean, from financial services firm, Grant Thornton, has been appointed to take charge of the administration, and said that they were now looking to capitalise on the assets of the company. The business operated from four main offices, in Newcastle, Darlington, Leeds and Hull.
Speaking to Bdaily Business Network Mr McLean said, "In this climate no business is immune, and in the case of Browne Smith Baker they are connected to the construction industry, which of course has suffered a great deal," he said, pointing out that the road to administration can begin for a company like BSB some years in advance.
"Browne Smith Baker thankfully managed the business well, downsizing considerably over the last few years. 80 had originally worked there, but since the company had struggled to maintain enough work, it was shrunk to 25."
The company had employed six partners and undertook both public and private contracts. The administrators have predicted that the sale of assets will take between six and nine months.
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