Hedge funds and oligarchs helped bring down Robin Ellis

Robin Ellis Construction collapsed because many of its under-pressure hedge fund and oligarch clients refused to pay their bills, according to the Daily Mail.

The firm, known as the 'posh builder', went into administration two weeks ago with debts of £1.5m.

Robin Ellis specialised in projects ranging from £4m to £6m, and only a year ago, business was good enough for it to reportedly turn down projects with a budget of below £1m. 

The firm, whose past clients have included David Bowie, Sir Mick Jagger and Vanessa Mae, was renowned for its lavish deep basement conversions in the homes of London's wealthy.

One of its most decadent projects involved the construction of a chute from a client's bedroom straight into her swimming pool so she would not have to get out of bed before her morning exercise.

Jagger had plans for Robin Ellis to build a swimming pool which could be converted into a 120-seater concert hall, at a cost of £5m.

One hedge fund client asked for a listed house in Chelsea to be gutted and recreated exactly as it had been before, but with modern M&E and the staircase strengthened so that it did not creak.

But despite the nature of his work, Robin Ellis, who founded the firm in 1954, was said to have an aversion to Footballers' Wives-style vulgarity.