'Bad debt sank Llewelyn Davies Yeang'
Ken Yeang, a director at now-insolvent architectural practice Llewelyn Davies Yeang, has blamed ‘several large bad and long-standing debts’ for its collapse
The healthcare specialist closed its doors last Monday (8 April) after registered company Llewelyn-Davies officially went into liquidation. As a result around 35 staff at its Camden-based studio in London were told they no longer had a job.
The 53-year-old outfit, which once ranked 13th in the AJ100 rankings and employed, was founded as Llewelyn-Davies Weeks in 1960 by Richard Llewelyn-Davies and John Weeks.
Yeang joined the practice with a fanfare in 2005 promising to bring his ‘deep green’ thinking to a wave of UK clients. But according to the Malaysian-born eco-starchitect, big debts and ‘slow payment from overseas clients’ meant the company’s liquidation was ‘inevitable’.
Yeang confirmed that Kuala Lumpur-based, sister company TR Hamzah & Yeang was ‘not affected whatsoever’ by LDY’s demise.
I may revive the company in one form or the other when timely
He also said that he would continue to work in the UK, ‘but not as LDY’. Yeang added: ‘On a personal basis, it is business as usual - I shall continue to practice in the UK, bringing major Malaysian and other overseas investors into UK projects, doing signature hyper-green buildings, besides managing my several large projects worldwide.’
As to the future of LDY, he concluded: ‘I may revive the company in one form or the other when timely.’
Meanwhile the Great Ormond Street Hospital for Children NHS Foundation Trust has told the AJ that the company’s closure would not derail ongoing work at the famous central London hospital.
LDY completed the hospital’s new Morgan Stanley Clinical Building last summer and construction on a second new clinical wing, also designed by the practice, is expected to start in 2014.
A spokesperson said: ‘The design for our new clinical wing is in its final stages, and we are confident there will be little or no impact on the project.’