The practice also closed its North Eastern Offices

Devereux Architects has reported a £1.9 million pre-tax loss for 2011, down from a pre-tax profit of £183,813 the previous year.

The practice, which during the year closed its North Eastern Offices at a cost of £779,000, also saw a slight dip in turnover to £5.1 million, down from £5.8 million in 2010.

In its accounts director Darius Umrigar said: “The decision [to close the North Eastern Offices] was taken prior to the year end to take effect fully by March 2012.

“This re-alignment of regional offices has put the architectural business on a solid platform for on-going development and improved performance is anticipated for 2012 and beyond.”

Umrigar also blamed the “ongoing downturn in market conditions” on the firm’s losses.

Over the year three directors waived their rights to remuneration and the practice employed 80 staff.

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