Future Live events and conferences at Unity Works in Wakefield have been cancelled after the parent organisation called in administrators.
Unity House (Wakefield) Limited, which runs the grade II listed office and events space, was unable to generate sufficient income and, due to ongoing funding requirements, it has not been possible to restructure the business.
Lee Lockwood and Bob Maxwell of Begbies Traynor in Leeds have been appointed joint administrators.
The registered Community Benefit Society was set up in 2011 and had eight permanent staff.
Seven staff have been made redundant with one being retained to manage the existing tenants.
Unity Works’ operations have ceased with immediate effect and all events have been cancelled although existing tenants will continue to be granted use of the building under the terms of their occupation.
The joint administrators are seeking a buyer for the company’s long leasehold interest in the building.
Mr Lockwood said: “Over the last five years, the company, supported by a number of external organisations, has achieved its primary purpose of completing a high standard renovation of the iconic Unity Works in the centre of Wakefield which has also led to the regeneration of the surrounding area. Unfortunately, the current operation of the building has proved to be unviable and there was no option but to place the business into administration.
“It is very sad to see the end of this facility in its current format and the loss of these jobs.
“Our priority is now to find a buyer for the company’s long leasehold interest in the building so that we can recover what we can on behalf of the creditors.”
Carmel Harrison, who runs her own PR agency, took up office space at Unity Works in 2014 after intially enquiring about hot desking space. She told The Yorkshire Post that the news of Unity Works being placed into administration wasn’t “out of the blue”.
Ms Harrison said: “It’s been rumoured for three or four months now.”
She added: “It would be a significant loss if a buyer couldn’t be found for it.”
Jordans Solicitors recently moved 22 staff into Unity Works.
A spokesman for the law firm told The Yorkshire Post: “It’s business as usual. This is a Unity Hall issue and it in no way affects Jordans’ presence, our 22 staff and clients in Wakefield.”
He added that Jordans has a long lease which will be honoured by the landlord.
“Jordans has been in Wakefield for over 15 years and is most definitely remaining here,” he said.