Mascot Signs, a major provider of estate agency board services across the North East of England, has gone into administration.
A number of estate agents received a letter from an administrator acting on behalf of the company yesterday informing them that Mascot Signs, based in Newcastle, had run into financial difficulty.
The well-established firm has, according to Jared Gough, the owner of the Agency Express Durham and South Tyne franchise, struggled ever since its now former owner, Danny McCloud, died six years ago.
@AgencyExpressNE later added on the social media platform: “It’s [administration] been on the cards for a while. A shame nonetheless it was a healthy business once upon a time.”“This is very good news for us, although we accept it’s sad for them [Macot Signs] and their 20 or so members of staff,” said Gough.
Gough informs EYE that his firm won plenty of new business yesterday, and he expects lots more sign ups in the coming days.
He added: “Mascot Signs were well-respected locally, but they have been struggling for quite some time.
“As soon as we received news that they had gone into administration, we acted quickly, and managed to take on five new branches, including the local Reeds Rains, part of LSL, and hopefully we’ll pick up a few more firms between now and Monday.”
Comments (11)
I am one of the directors of Mascot Services Ltd and while I will try to remain as professional as possible whilst replying, it has saddened and angered me to see the above article.
There are so many inaccuracies in this article I felt compelled to respond.
Mascot Services Limited went into liquidation yesterday (the 15th December)
Danny McLeod sadly passed away in 2015 and up until 2018 when a management buyout occurred, Jim Madden continued to successfully run the business.
We fully understand that our customers need to respond quickly and both myself and my fellow director are doing our utmost to make sure the transition to a new board contractor is as painless as possible.
I appreciate Agency Express’ post above and will let the members of staff who were made redundant yesterday know of their offer
Glenn Sharp
Thank you Glenn, we appreciate your comments. Please do reach out if we can assist in any way and best of luck for the future.
Naomi Eaton
In light of the above article, I thought a comment on behalf of Agency Express Ltd may be appropriate.
Firstly we were very sorry to hear of Mascot Signs ceasing trading this week, and the subsequent challenges and hardship this may bring to the directors and staff involved. We have worked alongside them in the board service industry in the North East for more than 20 years, and would like to wish all involved the very best for the future. If we can assist any individual from Mascot Signs directly, they are very welcome to reach out to us and we will do our very best to assist.
While Agency Express remain committed to helping all estate agents, and especially those who may find themselves without service, we do appreciate the comments above, specifically about the tone of the article. Agency Express Ltd were not asked to comment.
Shit, the more I read this the more I think wtf would you want to go public saying how you “pounced” on misery! argh…not a great storey this.
“This is very good news for us, although we accept it’s sad for them [Macot Signs] and their 20 or so members of staff,” said Jared Gough, the owner of the Agency Express Durham and South Tyne franchise.
It might be just me, but I think Jared could have said, please do not run this storey and certainly do not expect us to comment. Nothing but tragic both the loss of life and struggling business.
I totally agree. Does not make Agency Express look very good at all, nor the agents that switched.
Liz Shore Way
“Does not make Agency Express look very good at all, nor the agents that switched.”
Mascot have ceased trading – the Agents had no-one to carry out their board duties. What did you expect them to do – go out and stick ’em up themselves? Maybe thirty years ago that would have been the case.
(Ric would – but couldn’t – his boot ain’t big enuff!)
I agree that the other company appear to have treated this a tad insensitively – the Tweet yesterday came out of the blue (to me at least – but I’ve been off the coalface for three years)
“To all #NorthEast #EstateAgents we understand that Mascot Signs has today gone in to administration! We would love to help! If you would like a no obligation chat about how we can swiftly pick up your board management please give Jarred a call on…”
and yes – slightly ambulabce-chasingesque – but no different to what happens whenever any Agent shuts up shop – the seagulls swoop to pick up the dropped morsels.
Mascot was a good company under Danny – I don’t know what happened to change things after his sad and untimely passing, but the foundations were there.
All in all, a sad piece of news for the industry that will now be remembered as much for this article as anything… which is sad in itself.
I agree the EA’s have to move on…
We had this a few years back with our board company who sadly went in to administration. We actually offered to help and I wished some of the other agents had also thought about a way we could have all backed the board company and make it work, but we had to move on and move on quite quickly. It was sad after a 27 year relationship with them.
My gripe with the above story is the fact it has been turned into a story! and nothing in their mind (Agency Express) triggered a “you know what… this ain’t a story to comment on”.
Any publicity is good publicity some might say…
PS PeeBee – I tweeted a picture in Lockdown 1, which I will find and tag you in on! My car is perfect for boards. haha
Great point well put, Ric – couldn’t agree more. Most of Mascot’s clients would have been independent local agencies but I also believe that they handled work for at least part of LSL’s NE network also. It wasn’t a small business – they also did office refits and signage and Danny was always mooching for the next job.
According to what I was advised yesterday, what happened to Mascot had been on the cards for some time, so whether they had tried and failed to gain backing from their clients on whatever basis I don’t know.
As I say – sad for those that worked there, for their clients – and for the industry in general that another supplier has been lost.
And yes – you can get a board or two in your car… BUT WATCH THOSE VINYL SEATS! ;o)
PeeBee
I was not commenting to say that it was a bad thing for agents to switch, I was commenting to say that this article comes across very badly and does not look good for anyone involved due to the way it is written.
A very sad article that could have been written in a more sensitive manner.
I am pleased that those involved have had an opportunity to respond. My heart goes out to those that have lost their jobs so close to Christmas.
Maybe you weren’t – but your comment read that way, I’m afraid.