Collapsed ARPM owed £ 1.48million to creditors, latest documents show
The collapsed property management company ARPM owed creditors £ 1.48million, it was revealed.
This included £ 602,169 owed to trade creditors and expenses; £ 36,000 to employees; bank and investor loans totaling £ 560,000 and £ 40,000 due to HMRC.
Staff will be the first to receive the remaining liquidity from the ARPM liquidation, followed by HMRC and then by other creditors.
But getting cash from liquidation can be tricky – the balance sheet released online shows that most of its assets were purchased through loans and are now worth less than their original purchase value. Customers owed ARPM £ 36,500.
The figures coincide with the real estate management software provider’s commitment to ARPM to intervene and support the more than 60 agents “left behind” by the future. liquidated company. The company is also one of ARPM’s creditors and owes £ 50,000, according to documents from Companies House.
Technology Blueprint (TBL), the creators of PropCo, the UK’s leading property and accounts receivable management software platform, made the comments today.
TBL works with the ICO and The Guild of Goods Professionals to understand how they can best help partner agents, while ensuring that data is properly secured and data breaches are avoided.
TBL has already been able to offer vital assistance to partner agents who also have data controller status, following advice from the ICO.
Daniel Curran, director of the affected company Curran & Pinner (pictured) said: “We were suddenly plunged into darkness when ARPM went out of business.
“Our immediate concern was to manage the workflow of our portfolio, ensuring that our service levels did not fall below customer expectations.
“Technology Blueprint Ltd quickly established our immediate needs and by working with our operations department we were able to maintain our service levels while data ownership was established.
“During this very testing period, by working together we were able to form a new and improved working relationship and in doing so we aim to further improve our levels of service to our customers as we move forward. “
Mark Howlett, commercial director of TBL (photo) adds: “It is tragic that not only the ARPM leadership has left invoices and salaries unpaid, but also partner agents and TBL in a minefield of uncertainty. TBL bends over backwards to help affected agents continue their operations, while maintaining data security and following the advice of the ICO. And we are committed to doing so until we receive clear instructions from the ARPM.