This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

Property company enters administration with £1.4m debt

08 October 2021

Despite receiving government support during the Coronavirus pandemic, property management company ARPM has gone into administration, it was reported earlier this week.

According to The Negotiator, the company had a received £245,000 last year within the government's Coronavirus Business Interruption Loan Scheme.

However, analysis of the company's accounts show that its level of debt requiring to be paid within 12 months had risen from £50,482 to £266,349.

Its overall debts had doubled between 2019 and 2020, rising to a level of more than £426,000, which has been stated to indicate that the company was increasing difficulties before the start of the pandemic.

The company's website has been taken down, The Negotiator report stated, with no holding message for its creditors.

More than 70 agents have been affected by the collapse of the company, although support is reported to be given by its software supplier TBL.

Additional back-up is also being given to agents who are members of The Guild of Property Professionals.

ARPM staff are also reported to be owed money by their employer, after wages went unpaid "several weeks before rumours of problems at the company began circulating".

Both staff and investors are now waiting for confirmation that they will receive payment, with creditors also keen to hear further information.

Print this page | E-mail this page


View more articles
Article image

Why the Law Says You Need a Nappy Bin Disposal Service

At home, parents are used to disposing of their babies’ used nappies the same way they do any other domestic waste - bagging it up and sticking it in the r...
Article image

Zero carbon increasingly influencing contractual agreements

With the UK continuing to increase its efforts to achieve net zero carbon emissions by 2050, these efforts can be seen to be increasing their influence on ...
Article image

PFM Partnership Awards 2021 winners

Last night saw the first live presentation of the PFM Partnership Awards since 2019 and the evening was hailed as a great success....
Article image

Global standard for reporting of carbon emissions in buildings published

Launch of the International Cost Management Standard (ICMS3) universal standard for the reporting of carbon emissions resulting from the construction and l...
Article image

Duty of care for home workers update issued by HSE

Employees working from home are entitled to the same duty of care from employers as they would be if working from a company-owned or run facility, says the...

Benchmarking maintenance

BSRIA has just published this year's operation and maintenance benchmarking report as a guide for building operators to evaluate their performance against ...