Signature loses two more firms to administration
Signature Living Residential and Signature Victoria Mill, entities delivering residential schemes in Liverpool and Manchester , have been placed into administration.
The special purpose vehicles are the latest offshoots of Lawrence Kenwright’s Signature Living Group to collapse, after administrators were appointed to its hospitality arm earlier this week.
The two companies are behind, respectively, a 123-apartment project at 60 Old Hall Street in Liverpool and the conversion of the grade two-listed Victoria Mill in the Miles Platting area of Manchester into 85 flats. Both schemes are currently under construction.
Administrators at restructuring firm FRP have been appointed to the Signature SPVs, and are “working closely with the management team at Signature Living Group to assess the status of both build projects”, with a view to bringing forward their practical completion in due course, a statement from FRP said.
Steve Williams, partner at FRP, said: “60 Old Hall Street and Victoria Mill are two highly sought after, centrally-located developments in Liverpool and Manchester.
“Our primary focus is to work closely with those involved in order to secure the funding needed to bring these projects to completion as swiftly as possible.”
The collapsed firms are the fourth and fifth Signature entities to fall into administration this month.
The group’s hospitality arm started administration proceedings this week, while Signature Shankly, the holding company behind the Shankly Hotel at Millennium House in Liverpool, collapsed earlier in the month. Duff & Phelps is the administrator for both, as well as for the management company behind the George Best Hotel in Belfast.
Two of Signature Living Group’s other companies have winding up petitions lodged against them, according to the London Gazette, including Signature Living Coal Exchange which is behind a luxury hotel in Cardiff, and Signature Living Contractors.