Coldplay are in talks over a possible rescue of part of Kids Company that would enable it to continue providing support to hundreds of young people following the charity’s sudden collapse.

The band, fronted by Chris Martin, are considering rescuing Treehouse, which offered education and therapeutic help to vulnerable children.

They were big supporters of Kids Company, donating a reported £10m to the charity, while Martin’s ex-wife, Gwyneth Paltrow, was often photographed with its flamboyant founder, Camila Batmanghelidjh.

Phil Harvey, Coldplay’s co-manager, said: “We’re incredibly proud of Treehouse’s work with children in great need over the past six years. It’s very early stages, but we’re not going to give up on the centre without looking at all options for the future.”

Martin and his fellow band members – Guy Berryman, Jonny Buckland and Will Champion – have their own charitable foundation, JJ Van Mars.

Opened in 2009 in north London, Treehouse gave practical and emotional support for exceptionally vulnerable children, their families and young people.

It provided education for children who are not attending mainstream secondary schools, an after-school club for under-14s and an outreach team.

The intervention comes after Kids Company dramatically folded amid claims of poor financial management and allegations of sexual abuse.

It is alleged charity staff knew of complaints that girls aged 16 to 18 had been forced to have sex with male clients of Kids Company in their 20s.

Batmanghelidjh said police had only recently brought the allegations to the charity’s attention and that it would have “absolutely dealt with it very robustly” if they had emerged earlier. The claims were cited by the charity for the loss of a donation that could have helped secure its future.

It has also emerged that Kids Company received millions of pounds of government funding, despite major concerns being raised by ministers and senior civil servants that the cash did not represent value for money.

The charity closed its doors on Wednesday, raising major concerns about the fate of the young people it supported. Government ministers, councils and other charities are now in talks to draw up plans to continue services and ensure these vulnerable children do not fall through the net.