Architecture practice Sidell Gibson Partnership LLP is facing impending administration and is expected to be put into liquidation in the next few weeks.
The practice, established more than 40 years ago, is expected to appoint Baker Tilly Restructuring and Recovery to handle the liquidation at a creditors meeting on 16 August.
The prospect of administration follows on from the postponement of two major jobs, which caused the practice insurmountable cash flow problems.
Company founder Ron Sidell said in a statement on 6 August: “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.
“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.”
The practice, which had offices in Birmingham and Clerkenwell, specialised in office and residential design, hotels and historic buildings, as well as working on the One New Change project in London’s Cheapside area.