Bank of England builder goes to the wall
The historic London firm that rebuilt the Bank of England and constructed a host of other landmarks in the capital has collapsed with the loss of 175 jobs.
Holloway White Allom charts its history back to 1882, and also built the Old Bailey, Trafalgar Square's fountains and Chelsea Bridge. The Mayfair-based contractor was behind the Bank's current headquarters in Threadneedle Street in the 1930s, replacing Sir John Soane's original building. Famed architecture critic Nikolaus Pevsner called its work "the greatest architectural crime, in the City of London of the 20th century".
But the firm has ceased trading and called in administrators KPMG after being hit by a sharp fall in turnover and lossmaking projects, according to industry website Construction Enquirer. KPMG is scouring through the wreckage for any assets that can be returned to creditors.
The failure comes after an unsuccessful attempt to shore up its finances earlier this year when private-equity company Privet Capital injected cash into the business in return for a majority stake.
The firm originally traded as Holloway Brothers before buying royal antiques adviser and interior decorator White Allom, a business led by King George V's antiques adviser and interior decorator Sir Charles White Allom, in 1960.
Construction giant John Laing bought the firm in 1964 but the business was then spun off to management after Laing was itself bought by Irish concrete magnate Ray O'Rourke in 2001.
