PwC administrators appointed to 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.

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