eMoov estate agents have called in administrators

Crashy_Time

https://www.estateagenttoday.co.uk/breaking-news/2018/12/emoov-was-never-going-to-find-a-buyer-says-leading-agency-analyst


Just like many of it`s customers?

eddddy

This FT article makes things sound very dodgy:

Emoov earlier said the three-way merger in late May with rival Tepilo and lettings agency Urban.co.uk created a company worth £100m.

In July the combined group raised £1.9m from hundreds of consumers via the crowdfunding site Crowdcube, in what it said would!“likely be the last [funding round] as we!look towards an IPO in coming months”.

Link: https://www.ft.com/content/2eaef058-f739-11e8-af46-2022a0b02a6c

The article makes it sound like:

• They told the world that they had a company worth £100m in May
• Which persuaded consumers to invest £1.9m in July
• Then they went bust in December

Obviously, it cant be that simple - because that would make it sound like fraud!

Petercampbell

My daughter offset the payments through emoov for ten months,so she has been in contact with finance company who I would now be a creditor,but the stated she must pay in full even though she has paid no money ( paid no money =not a creditor , so you can not register as a creditor)

Crashy_Time

eddddy wrote: »

This FT article makes things sound very dodgy:





The article makes it sound like:

• They told the world that they had a company worth £100m in May
• Which persuaded consumers to invest £1.9m in July
• Then they went bust in December

Obviously, it cant be that simple - because that would make it sound like fraud!

Sounds a lot like the property market.