The completion of 96 apartments wrapped around the multi-storey car park at the high-profile Kings Waterfront scheme in Liverpool has been cast into doubt by the voluntary liquidation of ACG North Ltd.
ACG North, a division of Artisan Construction Group, was appointed by landowner English Partnerships to build the residential element alongside the new £150m Arena & Convention Centre.
A statement from the directors of ACG North said: "The proposed liquidation of ACG North Ltd does not impact upon any of the other businesses operating in the Artisan Construction Group or the Group's construction capacity."
Paul Curran, newly appointed managing director of ACG North Ltd, added: "Substantial funds have been injected into ACG North Ltd in an attempt to trade it out of its problems but having taken expert advice and to protect our creditors we took the decision to put it into liquidation. This situation has not arisen because of the economic downturn but because of a legacy of poor management decisions by personnel who have now left the company."
A spokesperson for the Homes and Communities Agency, formerly English Partnerships, said: "Whilst the HCA has no direct contractual relationship with Artisan Construction Group, we are concerned that the project be completed. Site visits have been made and we are monitoring the situation closely."