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Stewart Saunders Forced Into Liquidation.

Belfast Boy

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BBC - Closed estate agent blames market - click here.

Tom MacLennan of Tenon Recovery, who were managing the liquidation, said the closure was a "clear indication" that the housing market was in difficulty

Daily Record - Edinburgh estate agents Stewart Saunders forced to fold - click here.

MacLennan added: "The much documented credit crunch and rapid tightening of lending criteria by mortgage companies has clearly affected consumer confidence and sales."

The Herald - Leading Scottish estate agent folds - click here.

However, it said business has been badly hit by a contraction in the housing market, with sales and income down significantly during the last year, and increasingly so in the last several months.

The Scotsman - Stewart Saunders in liquidation - click here.

The closure comes just a year after the company heralded record sales in 2006 of about £65 million – 25 per cent up on the previous year.

Managing director David Alves said at the time that demand was outstripping supply in Edinburgh.


Edited by Belfast Boy
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