Design firm that restored the Statue of Liberty is bankrupt

Swanke Hayden Connell claims that it is unable to collect more than $2 million from an assignment in Russia

TRD New York /
Jan.January 11, 2015 03:00 PM

Swanke Hayden Connell claims that it is unable to collect more than $2 million from an assignment in Russia.

The century-old New York architecture and interior-design firm Swanke Hayden Connell – famous for renovating the Statue of Liberty in the 1980s — has filed for Chapter 11 bankruptcy protection.

The firm is citing its inability to collect more than $2 million from an assignment in Russia, according to the Wall Street Journal. The bankruptcy is unusual in that Swanke Hayden Connell doesn’t have any major bank loans or other secured debt.

Instead, the firm says in court filings that it simply doesn’t have the cash to pay its bills.

Over the years, Swanke Hayden’s work including the Trump Tower, the Statue of Liberty and the recent rehabilitation of Central Park restaurant Tavern on the Green.

More recently, Swanke Hayden has taken on projects in Russia, including a 70-story mixed-use tower in Moscow and a planned mega-complex in downtown Moscow. [WSJ]Christopher Cameron


Related Articles

arrow_forward_ios
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
These are the tallest towers underway in NYC

These are the tallest towers underway
in NYC

These are the tallest towers underway
in NYC
A new competition asks what would houses on Mars look like (Credit: Getty Images, Pixabay)

Architecture’s final frontier: Here’s what houses on Mars might look like

Architecture’s final frontier: Here’s what houses on Mars might look like
Design experts: These office solutions will slow Covid’s spread

Design experts: These office solutions will slow Covid’s spread

Design experts: These office solutions will slow Covid’s spread
SBE's Sam Nazarian and leading architect Kobi Karp

“It is catastrophic:” Sam Nazarian, Kobi Karp talk coronavirus toll

“It is catastrophic:” Sam Nazarian, Kobi Karp talk coronavirus toll
The show has been moved to June 25th through the 28th

AD Design Show pushed back to June amid Coronavirus fears

AD Design Show pushed back to June amid Coronavirus fears
Richard Neutra’s Lovell House in LA, in need of TLC, invites buyers in

Richard Neutra’s Lovell House in LA, in need of TLC, invites buyers in

Richard Neutra’s Lovell House in LA, in need of TLC, invites buyers in
From left: Adamson Associates' Alan Tearle, Handel Architects' Gary Handel, Aufgang Architects' Ariel Aufgang (Credit: Getty Images, iStock, Adamson, Aufgang)

These architects designed the most new dev in NYC this year

These architects designed the most new dev in NYC this year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...