Fri, 26 May 2023 | ADMINISTRATION
A landmark building in Sheffield is to be put up for sale after administrators were appointed to the company that owns it. The John Banner building was built in 1934 and previously served as a department store, before being converted into office accommodation in the 1980’s.
Howard Smith and James Lumb were appointed as joint administrators to The John Banner Centre Limited on May 11 2023. In addition to the John Banner building, which is located in the Sheffield suburb of Attercliffe, the company also owns an office development in Barnsley.
Over recent months, The John Banner Centre Ltd was reported to have been experiencing an increasing degree of pressure from its creditors. As a result, and after reviewing their options, the directors decided that the business would be placed into administration and a buyer sought for its properties.
Interpath Advisory managing director and joint administrator James Lumb said: "We will be bringing the properties to market in due course, and would advise any interested parties to make contact with us at the earliest opportunity."
In its most recent accounts at Companies House, for the year ending September 30 2021, The John Banner Centre Ltd reported fixed assets valued at around £4.5 million and current assets of slightly over £1.67 million.
At the time, the company owed £1.3 million to creditors falling within one year and around £2.7 million to creditors falling due after more than one year, leaving the business with net assets of £1.75 million.
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