Careyjones Chapmantolcher's northern studios go into administration
Careyjones Chapmantolcher’s offices in Manchester and Leeds have been placed into administration following ‘difficult times as a result of the poor economic conditions in the regions’.
The northern subsidiary of the company went into administration on Friday last week (2 March). Careyjones Chapmantolcher ranked 75th in last year’s AJ100 league table of UK’s largest architecture companies.
The Manchester and Leeds studios, collectively known as Studio North, faced ‘difficult times as a result of the poor economic conditions in the regions’, according to a statement.
The London office in Bloomsbury is, however, trading well and has a ‘strong forward order book’, it was claimed.
Armstrong Watson’s Mike Kienlen and Dave Robson were appointed joint administrators to Studio North and were advised by Alice Pratt of Leeds law firm Clarion.
Kienlen said: ‘Careyjones Chapmantolcher is one of the best known architectural practices in the UK and has a national reputation for high-quality award-winning schemes.
‘18 months ago, the business adopted a new structure, dividing its operations into north and south. Unfortunately, the northern company has suffered particularly badly from the poor financial conditions in the property market which have delayed the start of many of its projects. Rather than waiting for cash flow problems to escalate, the management has taken decisive action in order to protect as many of its creditors as possible.’
A spokesperson for Studio North said: ‘Regrettably, we felt we had to take the decision, with our advisers, to place the existing northern operational company into administration in response to the greatly reduced workload.’
Tim Tolcher of Careyjones Chapmantolcher added: ‘The London-based group company will be maintaining and developing its national presence and continuing to provide a high level of service to all of our clients.’