County Armagh estate agency liquidated

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A Mid-Ulster estate agency is in liquidation owing the Northern Bank almost £900,000 and the Inland Revenue almost £25,000.

Joyce Estate Agents Limited had a number of premises in County Armagh at the height of the property boom.

The directors wound the company up earlier this month because it could not meet its liabilties.

The goodwill of business is understood to have been taken over by a former employee who is now running the agency under a new name from its Portadown office.

A statement of affairs for Joyce Estates Agents was filed at Companies House by the company's director, Jayne Doherty.

It indicated that the money owed to the bank was secured against development lands which are worth just £495,000 - leaving the bank more than £400,000 short.

Other creditors are owed about £800,000, though the vast majority of that is owed to two property companies which are closely linked to Joyce Estate Agents.

Castledillon Properties Limited is owed £380,596 while Whisper Properties Limited is owed £361,613.

Both companies have addresses at West Street, Portadown.