A statement by the administrators appointed by Emoov says there are prospective buyers for the listings on the online agency and a decision is expected “in the coming days.”
On Monday insolvency consultancy James Cowper Kreston was appointed as administrators by the directors of Emoov Limited, Tepilo Holdings Limited and Tepilo Limited.
A statement released by the consultancy yesterday afternoon said recent attempts to find one or more buyers for the Emoov and Tepilo businesses, ahead of administration, proved inconclusive.
“The administrators, nevertheless, want to minimise disruption to the companies’ client homeowners. As a number of prospective buyers have indicated an interest in purchasing the client property listings, therefore, the administrators will be exploring the transfer of these to other providers as a priority” the statement said.
It says a further announcement on the subject would be made “in the coming days” but it adds that parties interested in acquiring the remaining client property listings should contact Tom Russell at email@example.com.
The statement continues: “Thereafter, the administrators expect to close down the trading activities. The administrators will be writing to creditors in the coming days inviting them to submit claims for amounts owed to them at the date of administration.
“Creditors will rank for payment of amounts due to them in the order of priority set out in statute. To the extent that funds are not sufficient to pay unsecured creditors in full, in due course, they may receive a dividend calculated as a proportion of the amounts owed to that class of creditor. The administrators will provide further information about this when they circulate their proposals to creditors.”
The statement also confirmed that Urban, the lettings platform that was part of the controversial £100m merger deal last spring, was unaffected by the administration status of Emoov and Tepilo.