Fri, 09 Aug 2013 | ADMINISTRATION
Architects practice Sidell Gibson Partnership LLP is on the brink of entering administration and may be liquidated in the next few weeks.
Sidell has lined up Baker Tilly Restructuring and Recovery to manage the liquidation process, and is due to be appointed at a creditors meeting on 16 August.
Headquartered in central London and with offices in Birmingham and Clerkenwell, the business was established in the early 1970s by Ron Sidell. It conducted projects for office and residential design, worked on hotels and historic properties and also contributed to the One New Change project in London’s Cheapside area.
Insolvency looms over the architecture firm after two large jobs were postponed, leading to cash flow difficulties for the business.
Ron Sidell explained the situation in a statement: “Declining revenues over the past three years combined with the recent postponement of two major pipeline projects has meant we have taken the decision to go into liquidation in the best interests of our staff and creditors.
“I personally, together with Cate Thomas and Geoffrey Barrett, have committed significant funds to try and carry Sidell Gibson through the downturn in project income but we cannot hold on any longer.”
All of his staff have been fully paid to date with redundancy and holiday pay as well.
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