Hulme Upright acquired by directors
Architectural company Hulme Upright has been bought out of administration by its former directors. The Stoke-on-Trent-based business will transfer to Manchester once the deal has completed.
Corporate restructuring firm MCR completed the deal on behalf of the former directors, saving 15 jobs.
Hulme Upright specialises in architecture and town planning, and formerly occupied offices in Stoke-on-Trent and Manchester. Once the buyout has been completed, the Stoke-on-Trent office will be closed and all business will transfer to Manchester.
The company provides planning and construction services to companies across a wide range of sectors, including healthcare and education.
Matthew Ingram, partner at MCR, said: "The company had suffered from declining sales in recent years due to the general economic downturn and the recent reduction in public sector investment, which culminated in the company entering administration on 29 July 2011."
Ingram said that despite the Stoke-on-Trent office closure, the sale should "be seen as a positive outcome for the company and its remaining employees in both the short and long term."
