{"id":661298,"date":"2026-10-21T10:14:11","date_gmt":"2026-10-21T10:14:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/661298\/"},"modified":"2026-10-21T10:14:11","modified_gmt":"2026-10-21T10:14:11","slug":"it-only-takes-one-bad-contract-stirling-prize-finalist-goes-under","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/661298\/","title":{"rendered":"\u2018It only takes one bad contract\u2019: Stirling Prize finalist goes under"},"content":{"rendered":"<p dir=\"auto\">The London practice, shortlisted for the 2023 Stirling Prize for its Central Somers Town scheme, appointed liquidators Leonard Curtis on 28 September.<\/p>\n<p dir=\"auto\">A recently published statement of affairs revealed an estimated \u00a3306,000 shortfall to creditors and no pay-out expected for unsecured claims. It is understood the practice had seven staff when it closed its doors.<\/p>\n<p dir=\"auto\">The largest individual creditor is Khan himself, who is listed as being owed \u00a3137,000 through a director\u2019s loan account.<\/p>\n<p>Speaking to the AJ, Khan said: \u2018I 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 \u2013 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.\u2019<\/p>\n<p>The architect, who had worked as an associate at Caruso St John before setting up his practice in 2006, added: \u2018We were nimble, adaptable and provided great service to our clients \u2013 but it only takes one bad contract.<\/p>\n<p>\u2018I tried everything to keep going \u2013 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 \u2013 it\u2019s quite the unspoken secret of our trade.\u2019<\/p>\n<p>The statement of affairs shows that HM Revenue &amp; Customs was owed \u00a397,908, made up of \u00a364,237 in PAYE and employee National Insurance contributions and \u00a333,671 in VAT at the time of the liquidation.<\/p>\n<p dir=\"auto\">In addition, the document sets out \u00a316,800 in estimated claims relating to its former employees, split between \u00a35,600 of preferential claims and \u00a311,200 of unsecured claims.<\/p>\n<p dir=\"auto\">Trade and expense creditors are listed as being owed \u00a361,793. Named creditors include engineering practice Price &amp; Myers, owed \u00a317,685; property consultant JLL, owed \u00a37,440; and transport consultant Markides Associates, owed \u00a32,727. The Co-operative Bank is listed as being owed \u00a319,552.<\/p>\n<p dir=\"auto\">The statement says: \u2018From the financial information currently available it appears that there will not be a dividend available for unsecured creditors.\u2019<\/p>\n<p dir=\"auto\">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.<\/p>\n<p dir=\"auto\">According to the accompanying notes, a \u2018connected party\u2019 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.<\/p>\n<p dir=\"auto\">Adam Khan Architects\u2019 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.<\/p>\n<p dir=\"auto\">Its Central Somers Town scheme for Camden Council combined social housing with children\u2019s play and community facilities, earning a place on the RIBA Stirling Prize shortlist three years ago.<\/p>\n<p>Earlier this year Adam Khan won planners\u2019 approval for a 100 per cent affordable housing development across two sites in Greenwich, south-east London.<\/p>\n<p>The scheme, developed with Tibbalds as part of Greenwich Borough Council\u2019s borough-wide construction programme, will create 18 homes to replace two garage sites on Wricklemarsh Road and Zangwill Road.<\/p>\n<p>Adam Khan Architects had also been also working on two other developments in the borough, on sites in Hardy Road and Kidbrooke Park Close.<\/p>\n<p>The AJ has learned that Khan has set up a new practice, Studio Makhlooat, which is focused on smaller projects.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-710912\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/10\/Central-Somers-Town-Community-Facilities-and-housing_520_David-Grandorge_ORIGINAL_1-scaled.jpg\" alt=\"\" width=\"1717\" height=\"2560\"\/><\/p>\n<p class=\"inline_image_source\"> Source:David Grandorge<\/p>\n<p class=\"wp-caption-text\">2023 RIBA Stirling Prize finalist: Central Somers Town Community Facilities and Housing, Camden, by Adam Khan Architects<\/p>\n<p class=\"inline_image_source\" style=\"font-size:12px; max-width: 1727px;\">Source: David Grandorge<\/p>\n<p><a href=\"https:\/\/www.architectsjournal.co.uk\/news-fa034173\/2018-predictions-will-the-profession-continue-to-be-marginalised\/\" tabindex=\"-1\" rel=\"nofollow noopener\" target=\"_blank\">2018 predictions: Will the profession continue to be marginalised?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The London practice, shortlisted for the 2023 Stirling Prize for its Central Somers Town scheme, appointed liquidators Leonard&hellip;\n","protected":false},"author":2,"featured_media":661299,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[280175,83380,307,304,305,306,308,93,280176,280177,61,60],"class_list":["post-661298","post","type-post","status-publish","format-standard","has-post-thumbnail","category-arts-and-design","tag-adam-khan-architects","tag-affordable-homes","tag-arts","tag-arts-and-design","tag-artsanddesign","tag-artsdesign","tag-design","tag-entertainment","tag-greenwich","tag-greenwich-council","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/661298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=661298"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/661298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/661299"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=661298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=661298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=661298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}