A YORKSHIRE architects' firm has been sold in a pre-pack administration after it was hit by bad debts and cuts to the Building Schools for the Future (BSF) programme.
Jefferson Sheard Architects (JSA), based in Sheffield, was bought by a newly-formed company, saving 16 jobs. The rescue was put together by The P & A Partnership, which declined to answer questions about the size of JSA and how much it owed creditors.
Christopher White, from P & A, said: "A newly formed company Jefferson Sheard Limited bought the business on a pre-packaged basis. This business was hit by cashflow problems caused by the impact of a downturn in the construction sector and axing of the Building Schools for the Future programme. We had to put together a speedy rescue package to save the core business.
"Employees who were made redundant prior to our appointment will be able to apply to claim some of their entitlements, up to certain statutory limits, through a scheme run by the Department for Business Innovation and Skills."
A statement on the architects' website said: "Jefferson Sheard Limited is trading as Jefferson Sheard Architects from offices in Sheffield and Peterborough and an announcement regarding the location of the company's Manchester office will be made shortly."
JSA had a 100-strong team of architects, technologists, interior and landscape designers and was founded in 1958, according to its website.