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UK: HMRC has filed a winding-up petition against commercial real estate firm Avison Young, which has 11 offices across the UK.
According to a report on TheBusinessDesk.com, the action was launched against Avison Young Holdings and Avison Young Workplace.
The Birmingham-based business made pre-tax losses of £102 million in both 2023 and 2024. Its 2025 accounts are due to be filed at Companies House by September 30th.
Avison Young grew significantly in the UK following its c.£200 million acquisition of rival real estate advisory business GVA in 2019.
A company statement at the time said: “The acquisition establishes Avison Young as the only privately held, principal-led, global, full-service commercial real estate services firm. The combination also establishes Avison Young among the top five commercial real estate advisory businesses in the UK.”
The company has cut its workforce by around 300 over a two-year period as the group restructured several departments and repositioned its service offering.
Its 1,400-strong UK workforce represents around one-third of the global business, which is headquartered in Canada.
A spokesperson for Avison Young said: “We are in discussions with HMRC regarding a historical tax obligation, which we fully expect to be resolved shortly.”
Highlights:
- HMRC has filed a winding-up petition against commercial real estate firm Avison Young, which has 11 offices across the UK
- The action has been launched against Avison Young Holdings and Avison Young Workplace
- The company has 11 offices across the UK and a headcount of around 1,400
- The Birmingham-based business made pre-tax losses of £102 million in both 2023 and 2024
- Its 2025 accounts are due to be filed at Companies House by September 30th
