According to estate agents news today, over 450 jobs will be lost as Lloyds sells Halifax estate agents for just one pound. Banking counters in 121 of Halifax Estate Agents 218 branches will be closed with 1,000 remaining estate agents transferred to buyer LSL after the completion of the sale.
Lloyds only bought HEA after rescuing HBOS last year, and now have no need for the money-sapping business. Lloyds were reported as commenting: ‘an estate agency is no longer integral to [our] business model.’
Halifax Estate Agents are the fourth largest estate agency in the UK, and was at one point valued in the millions. LSL, the buyer, are the company behind YourMove and other estate agency chains. Although HEA lost 2 million pounds last year, LSL could turn it around by bringing back traditional estate agent values.
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