Peter Taylor Associates Limited (PTAL) had a net deficit of £1,653,350 – after taking into account £47,600 cash in the bank – when it officially ceased trading last month, according to a statement prepared by insolvency practitioners.
The firm, which had offices in London’s Soho and Uckfield, East Sussex, was established in 1978, although the limited company was not incorporated until 1987.
Its most significant projects included the internal fit-up of the Renzo Piano-designed Central St Giles development (completed in 2010), where the studio also obtained planning approval to change the use of one of the office towers to accommodations. It was only in April this year that the practice won consent for a new sports and cricket pavilion in developer Grainger’s Berewood scheme in Hampshire and a 37-house scheme in Victoria Road, Romford.
In 2017, PTAL employed 58 people working on a range of projects in the residential and education sectors and had a turnover of over £3.1 million.
By 2019, its revenue had fallen to £2.57m and its workforce was down to 40 employees. Its liquidation documents say the company had 30 employees when it closed and owed them £444,517.
The balance sheet also shows that PTAL owed 50 trade creditors more than £235,000, including £46,000 to Dell Computers. He was also indebted to HM Revenue & Customs to the tune of £213,703.
However, the document, prepared by mfw Insolvency and Corporate Recovery, also says the company had almost £500,000 of work on its books, owed £234,000 itself and owned almost £60,000 worth of IT equipment.
PTAL was founded by architect Peter Taylor and began life working on barn and attic conversions for private clients, primarily in Kent, Surrey and Sussex. In 1988 the firm upgraded the Roller Mill, Uckfield, which became its base.
When her workload grew, winning major housing programs for domestic builders, she then opened studios in London and Birmingham.
According to its website, among its key projects were “notable public housing schemes” and “prestigious West End residential projects for private and commercial developer clients”.
The company has been approached for comment.