View more on these topics

Recession hits surveyors as two big firms go into administration

Surveyors are emerging as the latest victims of the credit crunch, with two major companies being placed into administration in a week.

Ashdown Lyons filed for administration on February 20 and 60 staff were made redundant with immediate effect.

On its website the firm claims it carried out more than 7,000 surveys and valuations per month for several mainstream lenders.

But Jeremy Lyons, chief executive of Ashdown Lyons, says: “The lack of instructions made trading untenable. We would like to thank our friends and clients for their support, as well as our loyal staff.”

Ashdown Lyons’ subsidiary Lendersafe is not affected and will continue to work with lenders and surveyors.

Industry consultant Jonathan Cornell says the decline in surveying activity is partly down to lenders hampering brokers’ ability to instruct surveys.

He says: “Once brokers lost the ability to choose who they wanted to instruct, life was going to be difficult for Ashdown Lyons. It’s sad that such a great firm has gone.”

Another surveying firm, Christopher Rodgers, was placed into administration on February 13. It stopped accepting new instructions on February 9 and all 30 staff have been made redundant.

Chris Rodgers, chief executive of CRL, says: “The management considered this closure carefully and the redundancies were a last resort.”

He is keen to stress that the firm’s CR Energy arm, which provides Energy Performance Certificates, will continue to operate.

Recommended

Infographic - thumbnail

Infographic — health cash plans 2014

Health Shield has strengthened its position in the cash plan market, according to the latest Laing & Buisson report, increasing its market share by income from £27m in 2012 to £29m in 2013. The Health Cover UK Market Report 2014 revealed that the non-profit-making Friendly Society was the only provider in the top four to have increased its market share by income over the past year. Health Shield was also the only cash plan provider in the top four to have increased its market share by income every year for the previous five years. This infographic presents the figures.