Companies House data shows move will cost Hong Kong-based firm at least 拢15m
Global architecture and design practice Aedas has closed down its London-based operations at a cost of 拢15m to the Hong Kong-headquartered firm.
Companies House documents reveal that Aedas London and Aedas Interiors London, both previously based at St Katharine Docks, were placed into voluntary liquidation earlier this month.
Aedas was ranked No.8 on 好色先生TV Design鈥檚 most recent of the biggest practices on the planet, with a headcount of 750 architects and fee income of US$230m-239m 鈥� 拢213m-拢221m at today鈥檚 exchange rates.
Although there are 25 Aedas staff currently on the UK Register of Architects, only five are described as based in the UK. The remainder give work addresses in Hong Kong, Singapore and Macau.
Aedas also has offices in Beijing, Shanghai, Chengdu, Shenzhen, New Delhi, Dubai and Seattle.
According to the Companies House documents, resolutions were taken to wind up Aedas London and Aedas Interiors London on 9 September, with the appointment of Anthony John Wright and Alastair Rex Massey of FRP Advisory Trading as liquidators.
Hong Kong-based Aedas International was listed as far and away the biggest creditor for Aedas London, at 拢11.2m.
A statement of affairs document for Aedas Interiors London revealed it owed Aedas International 拢2.2m and Hong Kong-based Aedas Interiors 拢1.6m.
The statement of affairs documents were both signed by Aedas founding director Keith Griffiths. The one relating to Aedas London suggested eight redundancies had been made with combined claims for payment in lieu of notice of 拢118,028.
The documents showed trade creditors of Aedas London were owed 拢63,824. Trade creditors of Aedas Interiors London were owed 拢3,287.
A statement from Aedas said the business鈥� London operations had been impacted by a 鈥渟evere contraction鈥� in UK leisure and entertainment work over the past few years.
鈥淎s a strategic drift, Aedas will allocate more resources to its business activities in Asia and the Middle East in view of the rapidly booming markets.鈥� it said.
鈥淲e do not regard the closure of Aedas London a 鈥榖usiness collapse鈥� but, rather, a strategic decision.
鈥淚n implementing this business decision, Aedas has made effective arrangements to assist its clients with a professional project transition and ensure fair compensation to Aedas鈥� employees.鈥�
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