Directors at Liverpool-based A2 Architects claim the studio is in a ‘strong position moving forward’ despite the appointment of administrators last week
The six architect-strong practice has appointed Milner Boardman of Hale, Cheshire to act as administrators with a view to ‘continuing to trade and preserving the practice, employees and company assets’, according to a statement.
The decision to call in Milner Boardman came after the collapse of ‘several major property’ clients left the company with more than £500,000 worth of bad debt.
Company directors Dylan Jones – who established the practice in 1995 – and Jonathan Smith said they were ‘positive’ about current workload and the recovery of a ‘substantial secured debtor position.’
It is understood the studio recently won a legal action against a client owing them a large amount.
Jones said: ‘We are in strong position moving forward with our current commissions, and are looking to the future with our committed staff and with optimism’.