Cash-strapped housing developer Taylor Wimpey is still looking to raise cash to support its business through the downturn and predicted housing slump, having so far failed to secure capital from institutional investors despite successful fundraisings by UK banks hit by the global credit crisis.

Taylor Wimpey said in a statement today that it is "meeting with a number of existing and potential investors with a view to raising further equity capital. However, in light of current market conditions [it has] not been able to conclude a satisfactory transaction."