Paul Kemsley's property business Rock has gone into administration; one reason cited was the effects of the slump in the property sector.
Administrators PricewaterhouseCoopers have been brought in to assess the business and its options for the future, while developing a long-term business strategy.
Rock's subsidiaries Rock Investment Holdings and Birchridge have also been placed in administration.
Rock has a portfolio of office, industrial and retail properties in the UK and America, which include Selhurst Park Football ground, offices on Fifth Avenue in New York and the former Burberry head offices on Haymarket.
Entrepreneur Mr Kemsley, a well-known property investor, was formerly the vice-chairman of Tottenham Hotspur, and is one of Sir Alan Sugar's business mentors on the BBC's The Apprentice.
Kemsley founded the £500m property business in 1995, and is well known for his aggressive property buying tactics. It is understood that he has no intention to buy the group back.
