PricewaterhouseCoopers (acting as administrators for Archial Group) have officially announced the sale of the UK businesses and certain assets of Archial Architects Limited and Alsop Sparch Ltd to firm Ingenium Archial Limited.

David Chubb and Graham Frost of PricewaterhouseCoopers were appointed joint administrators of Archial Group and subsidiaries exactly a week ago on 21st September 2010, after Archial Group admitted the extent of its financial troubles.

In a statement released today, David Chubb commented: "We are delighted to be able to secure this sale and provide business continuity for customers, suppliers and employees alike in these uncertain times. Trading a professional services business in administration is extremely difficult and this success has only been possible as a result of the support of all these stakeholders. I would like to thank them for their assistance throughout this difficult period.”

Source: http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.showb...