An online estate agency is considering shedding jobs, it was confirmed to EYE last night.
House Network put the blame on Brexit uncertainty.
We had been told that there was due to be a consultation meeting yesterday with employees at House Network.
It is not known how many employees may be involved, but in its last filed accounts, the business said it employed an average of 49 people throughout that year.
Mark Readings, founder and managing director of House Network, told EYE yesterday evening: “As the first online estate agency, we have seen many changes in the sector.
“As a result of the current market uncertainty, we may need to adjust our employment levels to ensure our business model remains stable.
“We are looking for the Brexit uncertainty to be removed so that the underlying strength of the UK economy can be reflected in the housing market.”
House Network says it was the first online agent in the UK, narrowly beating Emoov to that claim.
Co-founded by Mark Readings and Graham Lock – no longer with the business and now an industry consultant – the business was incorporated in 2003.
The termination of the appointment of director John Slade was posted at Companies House last week.
The firm’s latest accounts, for the year to the end of February 2018, were published on Companies House in December.
The accounts show that whilst total equity stood at minus £952,709 in 2018 (compared to plus £493,229 in 2017), the profit and loss reserves went from minus £5.042m to minus £8.602m.
The accounts include an asset value of £2.6m for the business’s computer software.
The accounts say that the directors of House Network “have agreed to support the company to meet its liabilities as they fall due for a period not less than 12 months from the date the accounts are signed”.