Administrators sell to founder's son

Administrators from Beever & Struthers have sold an estate agency assets
and trading name to the founder’s son.

They secured the sale of the agency earlier this week to Colin Mellor, who
bought the business assets and trading names for an undisclosed fee.

Some 15 offices were lost and 80 staff were originally made redundant, but
the deal reopens 8 offices and re-employs 60 staff into the new business.

Due to the crumbling housing market, Explora Solutions, which ran Edward
Mellor Estate Agency, was placed in administration on 4 February.

Charles MacMillan, partner and head of corporate recovery at Beever and
Struthers, said: ‘While we sympathise entirely with those people made redundant,
we’re delighted that there is a largely positive outcome which most importantly
keeps the Edward Mellor brand alive and provides new jobs to a number of the
ex-employees.’

Colin Mellor will become a director of the company.

Further reading:

KPMG called in to restructure Johnston Press