A well known Fylde coast estate agent has undergone a pre-pack administration after being hit with a huge back-dated rates bill.
But it is business as usual for staff and customers at Leftmove after a sister company Leftmove Estate Agents Holdings Limited took over operations immediately.
The agency is one of the stable of businesses owned by 30-year-old entrepreneur Ross Wallis, who also has The Fairfield Arms, Caffe Dolce and ice cream firm Bonds of Elswick.
Mr Wallis said the problem was caused by an unexpected bill linked to the firm’s Lune Street shop in Preston, which together with the Fleetwood shop was on an expensive 10-year lease and whose trade was hit by a change in the road layout.
The bill and the new national tenant fee ban starting on June 1, meant savings had to be made.
He said: “It was a difficult decision but we had to act and the business went through a pre-pack administration. I think all the creditors bar one have been paid. Leftmove Estate Agents Holdings Ltd now continues to trade all Leftmove offices.
"All employees have been retained apart from two part time members of staff in admin roles. The only changes are our Fleetwood branch has relocated from 111 Lord Street to 168 Lord Street and our Preston Branch has moved from Lune Street to Albert Edward House.
"All other branches remain open in the same locations with eight trading branches in total. Our brand, branch network and the colleagues who work within them remain at the heart of our customer offering and we can confirm it’s business as normal.”