Chesterton goes into receivership

Posted on February 1st, by editor in Caring Times. No Comments

The estate agent Chesterton, who for many years played a major business-to-business role in the care sector, went into receivership at the beginning of March. The agency, founded by the uncle of the writer GK Chesterton in 1805, was put into receivership after making Œsignificant losses¹ over the past few years, according to reports. Its commercial property business had reportedly lost £2m in the last few months. The firm, which had 36 branches, 16 of which were based in London, made hundreds of its workforce redundant. On March 14, it was announced that eighty workers in the asset management division would move to Mount Street Holdings, a residential property manager. Five commercial offices were sold to French company Atis Real and the residential sales business was bought by CIC International for about £900,000. At the time of going to press receivers Grant Thornton said the only remaining assets to be sold were minority holdings in some foreign offices and a 4% stake in the Investment Property Databan

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