The London practice, shortlisted for the 2023 Stirling Prize for its Central Somers Town scheme, appointed liquidators Leonard Curtis on 28 September.
A recently published statement of affairs revealed an estimated £306,000 shortfall to creditors and no pay-out expected for unsecured claims. It is understood the practice had seven staff when it closed its doors.
The largest individual creditor is Khan himself, who is listed as being owed £137,000 through a director’s loan account.
Speaking to the AJ, Khan said: ‘I am shocked and sad at the loss of my practice of 20 years and the break-up of an utterly fantastic team. It took time and care to build all that – a collective effort and will by so many hands and minds, supported by clients and collaborators of generosity and vision. I thank them all with all my heart.’
The architect, who had worked as an associate at Caruso St John before setting up his practice in 2006, added: ‘We were nimble, adaptable and provided great service to our clients – but it only takes one bad contract.
‘I tried everything to keep going – putting in what little capital I had and working for minimum wage. I mention that because so many others trying to make equitable public projects are facing this precarity too – it’s quite the unspoken secret of our trade.’
The statement of affairs shows that HM Revenue & Customs was owed £97,908, made up of £64,237 in PAYE and employee National Insurance contributions and £33,671 in VAT at the time of the liquidation.
In addition, the document sets out £16,800 in estimated claims relating to its former employees, split between £5,600 of preferential claims and £11,200 of unsecured claims.
Trade and expense creditors are listed as being owed £61,793. Named creditors include engineering practice Price & Myers, owed £17,685; property consultant JLL, owed £7,440; and transport consultant Markides Associates, owed £2,727. The Co-operative Bank is listed as being owed £19,552.
The statement says: ‘From the financial information currently available it appears that there will not be a dividend available for unsecured creditors.’
The estimated figures published are subject to creditors submitting claims and the liquidators assessing them. They also exclude the costs and expenses of the liquidation.
According to the accompanying notes, a ‘connected party’ has an expressed interest in buying the tangible assets, with any sale to be considered during the liquidation. The document does not identify the prospective buyer.
Adam Khan Architects’ most celebrated projects include: the Brockholes Visitor Centre near Preston, which the practice won following an RIBA Competition in 2008 and subsequently completed in 2011; the New Horizon Youth Centre in London, which opened in 2012; and the Seizure Gallery at Yorkshire Sculpture Park from 2013.
Its Central Somers Town scheme for Camden Council combined social housing with children’s play and community facilities, earning a place on the RIBA Stirling Prize shortlist three years ago.
Earlier this year Adam Khan won planners’ approval for a 100 per cent affordable housing development across two sites in Greenwich, south-east London.
The scheme, developed with Tibbalds as part of Greenwich Borough Council’s borough-wide construction programme, will create 18 homes to replace two garage sites on Wricklemarsh Road and Zangwill Road.
Adam Khan Architects had also been also working on two other developments in the borough, on sites in Hardy Road and Kidbrooke Park Close.
The AJ has learned that Khan has set up a new practice, Studio Makhlooat, which is focused on smaller projects.
Source:David Grandorge
2023 RIBA Stirling Prize finalist: Central Somers Town Community Facilities and Housing, Camden, by Adam Khan Architects
Source: David Grandorge
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