An estate agency in Plymouth has been saved from closure after the firm that ran it went bust.
Pilkington Estates, which launched five years ago by Jon Pilkington, will continue to trade from its offices in Sutton Harbour and Stoke and all its staff have retained their jobs.
This is despite Pilkington Estates Ltd appointing liquidators following a meeting of creditors this week. The company’s existing offices, 12 staff and portfolio of almost 300 properties has been acquired by a new company, South West Peninsula Real Estate Ltd, which will trade as Pilkington Estates.
Jon Pilkington said that after taking legal advice, liquidating the company was considered the best way forward after the struggling business. He said a “settlement figure” was being agreed with creditors owed money.
According to the estate agency’s founder, Pilkington Estates’ customers will not notice any change, with the new company taking over the 120 properties it has for sale in the South West, and the 160 that are under offer.
He told the press: “We will continue as normal, the new company has purchased all contracted agreements from Pilkington Estates Ltd, and will trade as Pilkington Estates.”
He added: “After five successful years, due to the implications of the pandemic some years ago we have been forced to make some difficult decisions. Over the years, similarly with so many local businesses, the economic conditions over months at a time saw our income drastically decrease, whilst our outgoings only grew.
“Many other companies made the decision to close offices and to make staff redundant, which we respect is the easiest solution. However our staff are like family, so that was not an option for us.
“We are pleased to state that every member of staff, along with our offices in Sutton Harbour and Stoke, and our property portfolio of both for sale and sale agreed properties, have now been acquired by a new firm, who will continue to trade as Pilkington Estates.”
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