An estate agency has been rescued out of administration and restructured after being hit by financial difficulties thanks to an expansion programme, according to Insider Media.
North Yorkshire's Sherringtons Estate Agents had been successfully operating from a Ripon office for a number of years before branching out into the spa town of Harrogate.
But the costs of the expansion coupled with the number of established rivals in the property hotspot led to financial difficulties at the estate agency, according to the online site.
DFW Associates was appointed as administrator on March 31 but has already restructured the business.
The Harrogate office has shut and the Ripon branch was acquired in a deal which has allowed it to continue trading with no loss of jobs at Ripon. There were two redundancies at Harrogate - all of that town's property sales are now transferred to Ripon.
Director Julie Sherrington continues in post.
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