Will Alsop is in talks to sell his business to AIM-listed architect SMC, it emerged at the weekend.
Alsop Design Ltd is having discussions with the listed architect, which is in the middle of an acquisition drive.
The move could lead to Alsop, one of the UK's highest profile architects, parting company with his firm. The firm's financial difficulties were first suggested in October 2004 when Alsop sold 40% of the firm to R Capital, a venture capital firm.
SMC admitted there had been an approach.
It said: "SMC notes the article in the weekend press concerning the Company's possible acquisition of the business of Alsop Design Ltd. SMC confirms that it is in discussions with Alsop Design Ltd which may or may not lead to the company acquiring this business."