UK: Town or Country Ltd, the former parent company of Southampton operator Town or Country, has been liquidated.
The company was placed in to administration in July 2018, and winding up proceedings were started in June this year.
Town or Country, which reportedly has around 90 owned or managed apartments in Southampton and Portsmouth, has continued trading throughout the process under a new parent company TOC Assets Ltd, formerly known as Sharelets.
Director Nina Batley told SAN that the service the company provides to its customers has been uninterrupted by the changes, and that customers and partners were all kept fully informed of the situation.
A report from administrators Anthony Batty & Company LLP said that Town or Country Ltd went in to administration owing HMRC more than £200,000, which has since been paid, and 16 non-preferential unsecured creditors with an estimated total liability of £274,449.
Town or Country Ltd was first incorporated in 2006. It is the second serviced apartment company in the area to go in to administration in recent years. Newbury-based Executive Serviced Apartments (ESA) was placed in to administration in April this year. Its assets were acquired by Flying Butler parent company Orchard Apartments Ltd.
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