BusinessBusiness RecoveryPwC administrators appointed to Archial

PwC administrators appointed to Archial

David Chubb and Graham Frost take on the administration of architectural business Archial

PwC administrators David Chubb and Graham Frost have been appointed joint
administrators of international architectural business
Archial and its subsidiaries.

The group entered administration after a last minute request to creditor HMRC
to withdraw a winding-up petition was rejected.

It had previously announced in an August trading statement that it had held
discussions with HMRC and other creditors to repay its debts in full.

However, ahead of a scheduled meeting with HMRC on 21 September, Archial
discovered that the taxman had filed a winding up petition.

The business requested a suspension of shares on AIM last week.

Archial directors and administrators believe the business can be sold as a
going concern.

Further reading:

PwC
accused of conflict issues in Keydata administration

Bridge
Recovery liquidators called in to Sixty UK

HMRC
to lose £10m from Vantis collapse

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