Yet another company owned by Mitul Gadhia, previously of Martin & Co and Whitegates Estate Agents, has gone into administration.
Gadhia, who 11 years ago became a well-known industry figure when he launched a Martin & Co franchisee at the age of just 22, has seen his mortgage firm, Boden Samuel Ltd, fall into the hands of administrators.
This comes after the accounts for the business were almost three months overdue at Companies House – there was an active compulsory strike off application registered.
Taylors Estate Agents in Leicester, owned by Gadhia, also went into administration last week. But this is not the first estate agency under his control to go under.
In 2017, at the age of 27, Gadhia became The Property Franchise Group’s (TPFG) largest franchisee in terms of office numbers following the purchase of a five-branch business – tripling the size of his property portfolio and taking on 35 new staff.
Gadhia’s Whitegates Leicester purchased Taylors, a well-established estate and lettings agency which had been operating since 1992 and they at the time had five offices across Leicester and Loughborough.
But in 2020, Miresh Property Company Limited, which owned the Whitegates’ franchises in Leicester, Sileby, Syston (which was Taylors/Whitegates) and Broughton Astley, went into liquidation.
The appointment of a voluntary liquidator was published on 19th September 2020 by Companies House.
The administrator for Boden Samuel Ltd is in the process of compiling the formal document – it will available next week.
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