Founder's son rescues Edward Mellor...

11 February 2009

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5 Comments

Written by Rosalind Renshaw

North-west agency Edward Mellor has been bought out of administration after its parent company, Explora Solutions, was sold by administrators to a new company led by former director Colin Mellor.

According to reports, eight out of 15 branches will be saved, along with 60 out of 80 jobs.

Colin Mellor said that trading conditions for estate agents had not been seen before in postwar Britain. The company had not been able to reduce its cost base sufficiently.

He added: “In purchasing the assets and trading name of Edward Mellor, we have a company which is equipped to deal with the current climate and provides a sound platform for the customers we have acquired through the purchase.”

Edward Mellor was founded by Colin Mellor’s father in 1985.

Comments

- Strange days
Wasting money spending on software, cars, poor staff and now re-buys keeping same staff, I suppose we just have to wait for same result. I'll give it 6 months, savour my ar.. he hasn't a clue. LEAST HE GOT HIS HOUSE FINISHED ON THE COMPANY MONEY BEFORE FOLDING!!!!!
- 02 March 2009 20:25 PM
- Another Cynic
Yes he did! he ran it into the ground and is now made out as hero! Glad people keep the Job, but not sure the solution to save the business was to sell it back to the same person
- 12 February 2009 20:09 PM
- shabby
Forgive me for being a cynic but didnt Colin Mellor run the business prior to buying it back
The press release appears to suggest he bought it from his Father
- 12 February 2009 12:31 PM
- Phil B
Good Luck to Colin and his team i wish you every success.
- 11 February 2009 18:17 PM
- John the cynic
Just another case where the poor bloody creditors get stuffed and the 'company' carries on as if nothing has happened !!
- 11 February 2009 13:33 PM