By Richard Hook2018-12-04T13:27:00
Online estate agency group Emoov has announced the appointment of James Cowper Kreston as administrator having hit cash-flow problems due to a lack of investment.
Emoov had been seeking a prospective buyer for its enlarged group having completed a £100m merger with fellow online agents Tepilo and Urban.co.uk earlier in the year. Founder Russell Quirk said that some of the £15m investment expected to come in as a result of the deal “has not been forthcoming”. The company has been loss-making every year since launching in 2009 and reported net liabilities of £583,824 for the year to the end of April.
You must be logged in to continue
Register for free to finish this article
Registration includes the following benefits:
To access this article REGISTER NOW
Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.