Unity Works, the co-operative events venue in Wakefield which has played host to Co-operative Congress, has gone into administration ceasing all operations with immediate effect.
Unity House Limited, which trades as Unity Works, was set up in 2011 as a community benefit society, taking over the building through a 999-year lease.
The initiative received financial backing from Wakefield Council, Leeds City Region, Key Fund, the Architectural Heritage Fund, the European Regional Development Fund and the Community Assets and Services Fund, as well as more than 200 shareholders.
Built in the 1860s and extended in 1909, the Grade II-listed building has a long co-operative heritage, as home to the Wakefield Industrial Co-operative Society. Unity House was the venue for the annual Co-operative Congress, organised by Co-operatives UK, in 2016 and 2017.
Its 40,000 square metres of space include a main hall, a minor hall, meeting rooms and conference facilities, a café, a gallery and 10,000 square feet of workspace for new and established businesses.
With the community benefit society entering into administration, seven members of staff have been made redundant, with one remaining to manage existing tenants, who can continue to use the building.
Lee Lockwood and Bob Maxwell of Begbies Traynor in Leeds have been appointed joint administrators on 23 October and are currently seeking a buyer.
They say Unity Works had been unable to generate sufficient income, and, due to ongoing funding requirements, it has not been possible to restructure the business. As a result, the board decided to place the business into administration.
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.”
