MORE than 120 estate agent branches are to disappear from the high street as part of a shakeup by Your Move owner LSL Property Services, putting hundreds of jobs at risk.
The company has announced plans to close branches of Your Move and Reeds Rains, which has offices in Southsea, Portchester and Waterlooville, slashing 124 branches to reduce the total number from 404 to 280.
The plans will refocus the company on 144 larger ‘keystone branches’ in crucial locations, with neighbouring sites shut down.
The operations of 81 branches will be merged into the core network, while 43 will close outright. Another 40 are set to be converted into franchises.
LSL said job losses are expected. A full list of store locations has not yet been revealed by the firm.
In a statement, LSL said: ‘The changes will better position Your Move and Reeds Rains as two leading estate agency brands in the UK. We will continue to support these branches and our people to maintain their brand presence and well established local market positions in the future.’