An estate agency with branches in Oxford and Swindon has entered liquidation, leaving creditors owed almost £60,000 and little prospect of recovering their money.

Wallers Estate Agents, founded by Rowan Waller in 2014, entered creditors’ voluntary liquidation on 29 August 2025.

A newly published progress report from joint liquidators Kirren Keegan and Paul Bailey, of Bailey Ahmad Ltd, reveals that the company has insufficient assets to make payments to creditors.

The agency, which operated from Rose Hill in Oxford and also had a presence in Swindon, listed five creditors with combined claims of £59,766.65.

These include NatWest, HM Revenue & Customs (HMRC) and leasing specialist CF&L.

NatWest accounts for most of agency’s debts

According to the company’s statement of affairs, NatWest accounts for the overwhelming majority of the outstanding liabilities.

The bank is owed approximately £52,563 across three accounts, including:

  • £31,567 relating to a Bounce Back Loan.
  • £19,996 in additional borrowing.
  • £1,000 on a business card.

Meanwhile, CF&L, a leasing specialist based in Southend, is owed £7,202.

HMRC is listed as a creditor for £59.94 in unpaid PAYE.

Although the company has no secured creditors, the liquidators say there are insufficient funds to make distributions to preferential or unsecured creditors.

So far, one creditor has submitted a formal claim for £31,567.93.

Liquidation costs swallow recovered funds

The liquidators have recovered £8,442 from a claim against another insolvent property company.

They also transferred £5,000 held before liquidation into the estate and recovered £3.85 from the company’s bank account.

In addition, they are examining whether they can recover a £3,592.35 corporation tax refund from HMRC. However, outstanding tax liabilities could offset that amount.

Despite these recoveries, liquidation expenses have exceeded the funds available.

Costs include £5,000 in pre-liquidation fees, £7,000 in liquidators’ fees and £2,400 in irrecoverable VAT.

Consequently, the estate has a reported deficit of £954.12, with a further £1,000 in approved liquidators’ fees still unpaid.

Creditors therefore face the prospect of receiving nothing from the liquidation.

No further action recommended against directors

The liquidators have completed their statutory investigation into the conduct of the company’s directors.

Their confidential report to the government identified no matters warranting further action or additional recoveries for creditors, according to the published progress report.

The liquidation remains ongoing, with a further report due within two months of the next anniversary unless the process concludes sooner.

Agency previously traded under different name

Wallers Estate Agents Ltd previously operated as Isis Estate Agents before changing its name in 2014.

The rebrand followed concerns over the name’s association with the terrorist organisation ISIS.

The agency was also previously registered with The Property Ombudsman, although its membership ended in August 2024.

The latest report provides further details of the company’s financial position more than a year after it entered liquidation.