Accounts show architect was paid over 拢500,000 of a bad debt
HOK鈥檚 US parent pumped 拢700,000 into its UK-based business earlier this year, the firm鈥檚 report and accounts show.
The payment was made to HOK International in March and comes as the firm narrowed pre-tax losses in the year to 29 December 2017 to 拢455,000 from 拢2.3m the year before.
A spokesperson said the 鈥渁dditional working capital [will] be spent on growth in people, marketing, IT and competition bidding capability鈥�.
The firm, which is based in Fitzrovia, said it has been 鈥渁dversely impacted鈥� by a scheme in the Middle East.
In the firm鈥檚 latest report and accounts filed at Companies House, HOK said it had received a bad debt credit of just over 拢513,000 compared to a charge of 拢659,000 it was forced to make the year before.
Earlier this week, the head of HOK鈥檚 London business Dan Hajjar said his firm was being hampered by Brexit and added the government was handling negotiations to leave the EU 鈥渢erribly鈥�.
鈥淚t goes from internal crisis to external crisis,鈥� he told 黑洞社区. 鈥淓veryone is walking on a floor of marbles.鈥�
The firm carries out 拢10.6m of its 拢19.4m turnover in the UK and Europe with the remainder coming from the Middle East, Africa and Asia where its jobs have included a science park (pictured) for electronics giant LG in South Korea鈥檚 capital Seoul.
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