Considered the second largest hybrid real estate agency in the United Kingdom, Emoov, has recently hired a slew of new administrators in the wake of not being able to secure a buyer.

The move had been widely anticipated for some days.

Here is the full email that has been sent to all Emoov staff this afternoon by chief executive Russell Quirk, provided to EAT by a source within the firm:

"They say that entrepreneurs should never give up. But at the same time one needs to know when efforts have been truly exhausted and when you simply have to call it a day.

"Regretfully and despite my significant endeavors over this weekend to achieve such, the prospective purchasers that have been in the wings have not come through with viable offers to acquire the Emoov business.

"In good faith, my absolute quest over the past few weeks has been to secure the future of Emoov under a new owner in order that staff and customers would have continuity and certainty. Sadly, that is not now to be..."

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