According to PwC, this comes as the 56,000 sq ft of office and retail space — delivered by the group in the first phase of the scheme — remained largely empty.

In addition, ABP has not paid many of its creditors for two years, resulting in numerous winding up petitions.

PwC’s director Rachael Wilkinson and partners Toby Banfield and Zelf Hussain have been appointed as joint liquidators, who will be supported by a team of experts from PwC’s real estate restructuring practice.

Toby said that the immediate plan for the development was to gain a more detailed understanding of the financial standing of the project, before securing new investment to restart the development of the site.

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“Once we have a clearer view of the current financial position through working closely with all major stakeholders, we will then invite interest from investors and developers who can reignite the development potential this scheme offers,” he added.

Mark Addley, real estate restructuring leader and PwC partner, stated: “This is one of the largest development sites in London and has great strategic importance given its location and the redevelopment opportunity at the Royal Albert Docks.

“We will be working with all stakeholders to maximise this opportunity — ensuring that creditors get the maximum return but also to support the place making in this important, evolving London district.”