Award winning agent closes at 'final straw' of bad news
Friday 3rd October 2008
A high-profile York estate agent is closing down its two branches, with the loss of four jobs. It made the decision after the latest round of bad financial news, which it said was the final straw.
Smilesallround was founded by Denise Howard in early 2006. Already a highly successful businesswoman, she was appointed OBE for services to tourism in Yorkshire. She promised an agency with a difference, pioneering the use of video viewings and child-friendly offices. Her business won several awards and supported the professional bodies.
She said the outlook for the market now makes it impossible to continue in sales, although the firm’s letting division will carry on.
She said: “We have not gone into administration or liquidation, but we cannot say when the residential market will pick up – it’s dire at the moment and we can see nothing but a very long winter ahead for property sales.
“It’s definitely not a decision we have taken lightly and I’m devastated about it. However, we have had to make the best and most sensible business decision we can.
“In the last two weeks we’ve seen what’s happened with HBOS and Bradford & Bingley and it’s shrinking the available mortgage market – there is a lack of buyer confidence.
“It’s something we have no control over and it directly affects our ability to generate income. We are going through uncharted waters and the current financial turmoil is too unpredictable for businesses like us.”
Friday 3rd October 2008
A high-profile York estate agent is closing down its two branches, with the loss of four jobs. It made the decision after the latest round of bad financial news, which it said was the final straw.
Smilesallround was founded by Denise Howard in early 2006. Already a highly successful businesswoman, she was appointed OBE for services to tourism in Yorkshire. She promised an agency with a difference, pioneering the use of video viewings and child-friendly offices. Her business won several awards and supported the professional bodies.
She said the outlook for the market now makes it impossible to continue in sales, although the firm’s letting division will carry on.
She said: “We have not gone into administration or liquidation, but we cannot say when the residential market will pick up – it’s dire at the moment and we can see nothing but a very long winter ahead for property sales.
“It’s definitely not a decision we have taken lightly and I’m devastated about it. However, we have had to make the best and most sensible business decision we can.
“In the last two weeks we’ve seen what’s happened with HBOS and Bradford & Bingley and it’s shrinking the available mortgage market – there is a lack of buyer confidence.
“It’s something we have no control over and it directly affects our ability to generate income. We are going through uncharted waters and the current financial turmoil is too unpredictable for businesses like us.”
posted by tony at 9:35 PM
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