MHA Architects enters liquidation
The practice that designed the well-known Stockport Pyramid went under owing £744,000 to creditors.
Michael Hyde & Associates, which trades as MHA Architects, was founded in 1974. The business called time earlier this month.
A statement of affairs published on Companies House shows that MHA had debts of £744,000 at the time of its collapse.
Speaking to The Architects’ Journal, director Jimmy Lennon said the “cost of maintaining Professional Indemnity Insurance cover since 2020” was the main reason for the company’s demise.
The largest amount owed to a single creditor is £106,000 to PIB Insurance Brokers, which provides PII.
MHA also owes £243,782 to trade creditors, £266,000 in redundancy payments to staff, and £67,000 to HMRC.
As well as Stockport Pyramid, which is currently being converted into a large restaurant, the practice’s other buildings include Oswestry Leisure Centre and Altrincham Grammar School’s Sports Facilities building.
More recently, MHA led on the design of the Museum of Illusions on Manchester’s Market Street; a 10,700 sq ft attraction within the former Sports Direct store.
Ugly looking building, it maybe iconic but it’s ugly end of.
By Anonymous
Really nice looking building, also very iconic, ignore the boring clowns comment, end of.
By Dylan
`The cost of maintaining Professional Indemnity Insurance cover since 2020′ was the main reason for the company’s demise. Seems a strange reason given that every other practice does this
By Jack Mary Ann
Sad news indeed. Goes to show the state of the architectural industry – reduced margins constantly getting pushed tighter. Shame the profession isn’t as well protected as many of the other true traditional professions.
By Dover
Which Altrincham Grammar School?
By Gum