The construction company renowned as London’s poshest builder' has collapsed in a stark illustration of how badly the downturn has hit the capital’s wealthiest residents.

Robin Ellis Construction Services, whose client list has included rock stars, hedge fund millionaires and ultra-rich non-domiciles, has gone into administration as the financial turmoil has frozen the stream of lavish work on prime west London properties.

Ellis said the collapse had come as a 'dreadful shock', and was brought about by a “climate of nonpayment and slow payment by clients”.

Financial Times