Jobs lost at mortgage company
Published Date:
12 August 2008
Twenty staff have lost their jobs after the collapse of a Hampshire mortgage firm.
Whiteley-based administrator Portland has been called in to salvage Mortgage Workout Limited, based in Town Quay, Southampton.
Portland administrators immediately announced 20 of the firm's 23 staff were to be axed, as it prepares to restructure the company and find a buyer.
Portland's director Mike Fortune said the firm was a victim of the credit crunch, but that efforts were underway to turn it around and make it profitable once more.
He said: 'We retained three members of staff to enable us to work through the pipeline of mortgage applications and generate funds for creditors. In addition we actively marketed the business for sale as there was a good core business.'
The full article contains 132 words and appears in The News newspaper.
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Last Updated:
12 August 2008 8:30 AM
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Source:
The News
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Location:
Portsmouth
