The well-established North East estate agency, Sanderson Young, has reportedly been issued a winding – up notice by the HMRC. After failing to pay a £175,000 corporate tax bill, the Newcastle firm, which also occupies the Mayfair Office hub in London, is currently being advertised for sale online.
According to The Negotiator, not only has the company’s turnover plummeted from £1.7 million to a mere £520,000 per annum, but their previous rival, Bradley Hall, are debating buying the company themselves. However the Chronicle Live portrays a different story. They suggested in a recent article that founder and owner, Duncan Young, still desires to head the firm. They recorded Young’s optimism: ‘’I am 99% certain that the company will be back on track with me leading it.’’
Sanderson Young, which has been a local name for 19-years, dedicates itself to the sale of upper-market properties.
Winding-up Petition Solicitors
If you have received a winding up petition our legal experts are able to provide legal advice and representation. Our team of solicitors and barristers can obtain a court adjournment; CVA’s or can successfully challenge validity of the winding – up Petition. This can ensure that the petition is dismissed so is not advertised in the media.