Strike, formerly Housesimple, remains in talks to potentially make an offer for online rival Purplebricks despite the company reporting a sharp decline in revenue.
The online estate agency has released its financial statement for the 12 months to March 2022 revealing losses in its account increased to £72,495,160, up from £54,229,520 a year earlier.
The company also reveals that headcount at the business increased from 154 employees in 2021 to 367 in 2022, while director remuneration rose from £417,195 to £445,735.
Since this period, Strike has gone through a series of job cuts, as reported by EYE.
Strike also revealed that it received a £16.75m loan from investors, at a 12% interest rate. As a result, the agency’s forecast for the period to 31 March 2024 “indicates the company can continue to trade within its cash resources for the 12 months following the signing of these financial statements”.
The firm adds, “The directors have a reasonable expectation that the company has adequate resources to continue to trade for the foreseeable future”.
Meanwhile, Strike Financial Services business also posted a loss on its balance sheet, from £433,498 to £1.96m.
Purplebricks sale process ‘ongoing’ as agency given more time to ‘Strike’ a deal
