The managing director of troubled estate agency Humberts says he has been “inundated” with prospective buyers since news broke over last weekend that the firm was in talks with administrators.
Ian Westerling told Estate Agent Today: “We are seeking a purchaser for the business to try and safeguard as many jobs as we can.
“No offices have officially closed as yet and we've been inundated with prospective purchasers.
“It is unclear as yet as to how the eventual sale will be configured. What is clear is that there is a positive appetite of interest for the Humberts brand."
It is understood that Humberts has asked insolvency consultancy Begbies Traynor to handle a possible sale if a buyer can be found.
Only last week Begbies Traynor issued a report stating that the UK’s real estate sector, embracing estate agencies as well as other aspects of the property industry, was facing “increased levels of financial distress” since the triggering of Article 50 to mark the official launch of the Brexit process.
The company remains tight-lipped about the number and location of staff believed to have been made redundant.
However it has now emerged that at least some of the Humberts employees laid off last Friday were not paid for April - an indication of the financial position of the firm, which is also widely reported to be late in reporting figured to Companies House.
Rumours have been circulating about individual Humberts offices and staff members since the weekend announcement by Ian Westerling.
For example yesterday EAT was told by a Humberts staff member that the most south westerly five of the agency’s 22 offices were the most financially secure and were therefore ‘safe’ from the redundancies which are already apparently underway at some of the firm’s offices.
This five are Truro, Honiton, Bridport, Taunton and Yeovil; the claim has been put to Humberts but there has been no official response so we cannot confirm the suggestion.
The company - which is 176 years old, first called in administrators a decade ago, and split from Chestertons in 2014 - has a prime central London branch as well as at least one office that is operated by a franchisee.
No official announcement has been made about the fate of these operations or any other specific branch.
More than 60,000 property and real estate businesses have started the...
It will be 'business as usual' for Humberts following the announcement...
Property market conditions in the new-build sector are likely to remain...
The intellectual property of collapsed online agency brand Doorsteps has sold...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.jpg){kind=logo}
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
.jpg)
Tell us a little bit about National Home Move. We are a...
If you’re thinking about becoming an Estate Agency franchise or converting...
Estate agents and lettings agents have a legal obligation to protect...
You don’t have to simply accept things as they are when...
From the uptick in house sales in January to a house price...
Happy birthday to us….and all members of the The ValPal Network! We...
With a combined value surpassing £7.4 trillion, the UK’s 29 million...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
When almost all agents and developers use the tried and tested formula...
I think we can all agree that the National Trading Standards...
.png)
As domestic battery storage systems become increasingly prevalent in UK homes,...
.png)
A team from The ValPal Network joined industry Facebook ads expert...
.png)
In this interview, Riccardo Dawson, Chief Operating Officer at Alto and...
%20(002).png)
In today's fast-paced and ever-evolving property industry, it’s essential that forward-thinking...
A client account is essential to your lettings business, but the...
As electric vehicles increasingly populate our roads and the necessity for...
As estate agents, it is important to make sure that your...
Estate agency has changed. No longer is it required to sit in...
Changes to consumer behaviour usually arrive in waves. Most of the...
At iamproperty we are excited to share the announcement of our...
It’s no secret – 2023 is a difficult year for the...
In an exclusive interview with Estate Agent Today, Simon Coaker, Sales &...
2023 has been coined as ‘the year of AI adoption’, and...
%20(002).jpg)
There are a few common questions that arise when the issue...
As a signage company we know we have a serious responsibility...
The Government’s mini budget on September 23 was anything but ‘mini’...
Agent websites have become more crucial than ever in attracting new...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Jump to latest comment and add your reply
Offers? At what price?
Blame Brexit as usual instead of poor management
Same old story. Poor old Humberts. I wonder what the next logo will be like? Never liked the current one.
Please login to comment