London-based Sidell Gibson Architects have ceased trading and expect to enter liquidation “in the next few weeks”.
“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. All staff have been fully paid to date and will receive redundancy and
holiday pay entitlements,” founder Ron Sidell said in a statement.
The 40-year-old practice called in accountants and business advisers Baker Tilly Restructuring and Recovery on Monday, it said.
The firm’s website became unavailable after the news was announced.
“It is with huge sadness that, after some 40 years, we have had to take this decision. 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. What is important to me now is that, with the exception of the Partners, all the staff have been fully paid,” he added.