The London arm of fit-out company TDA Interiors has been pushed into administration as a result of the collapse of American bank Lehman Brothers.
Details were still emerging as Building went to press but it is understood the London company, which has sister organisations in Guildford, Hong Kong, Brisbane and Sydney, was working on a job for Lehman at the time of its collapse.
Unconfirmed reports suggested the project was an office job in Bletchley, Buckinghamshire, which was part-owned by Lehman and another developer.
It is believed that the other arms of TDA Interiors, which operate as separate companies, have been unaffected by the collapse. The company officially went into administration on 29 September. Cooper Parry has been appointed as the administrator.
Elsewhere, there has been speculation that future developments by the likes of the Candy brothers and property entrepreneur Robert Tchenguiz will be hit by the turmoil in the Icelandic economy.
Both are funded by Kaupthing, Iceland’s largest bank, which had its shares temporarily suspended on Wednesday after being forced to take a £390m loan from Iceland’s central bank.
For the latest financial news, go to www.building.co.uk/finance