UK’s biggest estate agency on the verge of collapse
Estate agency group Countrywide look to be on their last legs as share prices fell another 12% today, which follows drops of 31% yesterday and 50% the day before.
Even before this reduction they were down 97% from 2015 levels. The company were in serious difficulties before corona with liabilities totalling £239.4m and a current market vale of £18 million.
The company have closed some branded agencies such as Mann in Sidcup though others in Woolwich, Catford, Beckenham, Lewisham and Dartford remained open, alongside Hamptons in Blackheath and Greenwich.
For how much longer remains to be seen. The agency employed around 10,000 across the UK before cuts recently begun.
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