Joint announcement from CIH and CIH Consultancy
A spokesperson for CIH Consultancy and CIH said: “We regret to announce that insolvency proceedings for CIH Consultancy were initiated today.
"CIH Consultancy offers some excellent products and services, but in a difficult financial landscape we can no longer be confident that the organisation is sustainable over the longer term.
"It has been a particularly challenging financial period for CIH Consultancy and after taking independent financial advice it was clear that this was unfortunately the only viable option.
"We are supporting any staff affected and will do all that we can to work with any organisations impacted by the change.
"Though this is regrettable we want to be clear to all of our members and everyone else that we work with that it is business as usual for the Chartered Institute of Housing.”
CIH Consultancy is a wholly-owned subsidiary of the Chartered Institute of Housing and any of its profits are reinvested back into the organisation.
It is a profit-making body which was purchased by CIH in 2007.
CIH Consultancy is a separate and distinct legal entity and is run by its own board and directors, and not by CIH.