Questions are being asked about developments at Douglas & Gordon (D&G) where the sales division entered administration only to re-emerge a week later.

CEO James Evans (main picture) is facing incredulity over his actions after appointing administrators only to then reportedly buy the firm a week later.

It leaves doubts about the company’s creditors who may be left without payment and office landlords who could be high and dry regarding any rent arrears.

Contractors working for D&G who might have bills were left unclear as to whether they will receive payment.

Likewise, staff at D&G sales could be left without pay and benefits after the interruption, albeit a short one, in their company service. The effects of the administration on the pension fund are also unknown.

The sales division has left administration after a sale to “a connected party” believed to be Evans.

Arranged sale

A spokesperson for administrators Grant Thornton says: “Philip Stephenson and Oliver Haunch of Grant Thornton UK LLP were appointed as joint administrator to Douglas & Gordon Ltd, having been appointed on Friday, 24 February 2023.

“Following their appointment, the administrators arranged the sale of certain business elements and assets to a connected party.”

Foxtons sold the sales operation of D&G to Evans in January last year just 11 months after it bought the business for £15.5 million.

D&G’s property sales division was loss-making when the deal went through, and it was clear that Foxtons was largely interested in its profitable lettings capability. The company has 15 offices in west and south London, where it is a well-established estate agency name.

The Neg has approached James Evans for comment.