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Thu October 29 2020

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Canadian firm buys Archial out of administration

30 Sep 10 Canadian firm Ingenium has bought stricken architect Archial out of administration.

Canadian firm Ingenium has bought stricken architect Archial out of administration.

The UK businesses and some assets of two group companies, Archial Architects and Alsop Sparch, were sold by administrators from PwC.

Shares in Archial Group were suspended from the Alternative Investment Market on 17 September 2010 following presentation of winding-up petitions, and the company and a number of its subsidiaries went into administration on 21 September.

David Chubb, joint administrator and partner at PwC, said: "We are delighted to be able to secure this sale and provide business continuity for customers, suppliers and employees alike in these uncertain times.

“Trading a professional services business in administration is extremely difficult and this success has only been possible as a result of the support of all these stakeholders. I would like to thank them for their assistance throughout this difficult period.”

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