A conveyancing firm in Nottingham has closed its sole estate agency branch just 18 months after it was opened.
April King Legal & Property, which until now had a high street property business in West Bridgford, Nottinghamshire, was part of a firm that offered both legal and property services.
The branch, which is below its headquarters, was unusual because it was a hybrid legal and property operation staffed by paralegal and estate agency specialists.
Until November last year April King was the trading name of AKHQ Limited, which in November last year went into administration owing creditors £580,000.
But the business was subsequently bought out of administration, the 25 legal and property jobs at the company were saved and its estate agency branch remained in business.
The main legal business, which deals largely in wills and conveyancing plus other bread-and-butter legal work, was formed in 2012 by MD Paul King.
It initially did well, establishing itself as one of the ‘new breed’ of legal services provider with offices all over the UK. And then 18 months ago it also opened its estate agency branch on Tudor Square in West Bridgford.
But this unfortunately coincided with a downturn in business for the company after several fee-earning stars left the company and it went into administration on 23rd November last year.
April King Legal, whose directors include Paul King, recently bought the business for £72,000 from business recovery firm Begbies Traynor, which is being paid in instalment of £8,000 a month.