Architect nears MBO rescue from Erinaceous

Architect Leach Rhodes Walker is close to agreeing a deal to buy itself back from parent company Erinaceous, which went into administration this week.

A spokesman for Salford-based LRW said a management buyout was nearing completion: "LRW is in the final stages of tying up a management buyout. The deal is expected to be complete in the coming days and the clients have been spoken to and given their unanimous backing to the venture."

Erinaceous bought LRW in 2005 for £9m. The practice was repsonsible for the design of Peel's Trafford Centre, the Grand Arcade in Wigan and New Times Square in Warrington.