FRP Advisory administrators lay off 450 people at photography studio
Philip Armstrong and Geoff Rowley appointed administrators to Doubletake Studios
FRP ADVISORY administrators have been appointed to London-based photography studio Doubletake Studios.
Philip Armstrong and Geoff Rowley, (pictured) partners at FRP, have made 450 full-time staff and a further 350 contractors redundant.
About 355 staff were employed at the company’s studios in Farringdon, 166 in Birmingham, 156 in Manchester and 136 in Southampton.
Armstrong said: “The situation is regrettable, but having explored options it was found that Doubletake Studios Ltd was not viable for a sale as a going concern and we were forced to begin the shutdown process.”
“Despite exploring payment options with HMRC, the company’s historic debt and the company’ s short term cashflow proved unmanageable, and we are now undergoing the process of closing the business down.