All 140 staff at Emoov were expected to be given their marching orders on Tuesday night after the online estate agent collapsed into administration.
The start-up, which had engineered a £100m three-way merger with rivals Tepilo and Urban.co.uk just six months ago and had been eyeing an IPO next year, went under on Monday evening after running into cash flow issues and struggling to find a buyer.
Russell Quirk, its founder and chief executive, told the trade magazine Property Week: “All staff, including me, are expecting to be laid off today.”
The loss-making company, which charged home sellers a fixed up-front fee rather than the commission levied by traditional estate agents, had put itself…
All businesses do indeed fail. Always a bit tricky when someone charging up front does too.