Administrators have confirmed that 21 jobs have been lost due to the collapse of Hunters' franchise in East Anglia.
At a creditors' meeting yesterday, Kudos Residential - which had been trading as Hunters - was placed into voluntary liquidation.
Insolvency practitioners Price Bailey have been put in charge of the process.
Kudos Residential was running nine branches in East Anglia and it is being reported that eight have closed with just one remaining in Hellesdon, being manned by William H Brown staff.
Kudos rebranded to Hunters in 2015 and represented the national franchise brand's first time operating in the Norfolk region.
“In the report to creditors the directors cited a tough market, that they had perhaps grown too quickly and a large HMRC debt,” commented Matt Howard of Price Bailey.
He said it was currently too early to establish the amount of money owed to creditors.
Last night, a spokesperson for Hunters made the following statement to Estate Agent Today:
“When asked about this last week, we were unable to comment due to confidentiality. We have worked diligently with Kudos’ management to consider all possibilities to find a solution. The business experienced a series of specific operational and financial difficulties which resulted in the Kudos’ Directors having to take this course of action.
The immediate and long term service to customers was a primary concern and a solution was obtained through a third party. This was a unique and complex situation with significant costs for all involved and we empathise with everyone who has been affected.”
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