The Preston-based timber frame factory, also with a sales and administration office in Gloucestershire, has confirmed plans to shut after more that 40 years pioneering the process.
A Taylor Wimpey statement said: “A formal consultation process has commenced with all Prestoplan employees and employee representatives.
“Throughout this process our priorities will remain the welfare of all employees and the continued fulfilment of our clients’ orders.”
The firm would not explain the reasons behind the closure.
The industry has suffered because of several high profile blazes on sites during construction – when the timber frame method is at its most vulnerable to fire.
Prestoplan was forced to reorganise production just over a year ago because of falling demand.
Then incoming managing director Ian Loughnane closed its Gloucestershire factory but kept a regional presence by maintaining an administrative office.
When the Gloucester factory came on stream back in 2007, it helped support turnover of up to £50m.
The firm had hoped its added-value panel systems, including the Urban Advantage non-combustible sealed unit, would gain traction in the student accommodation sector.
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