THE boss of a Bolton estate agency which went into administration has explained why he and two business partners were forced to take the action they did.

Bryn Weale says they had to put Weale & Hitchen into the hands of administrators because of slowdown in turnover and profitability.

He said there has also been changes in the way members of the public were now buying and selling homes.

The firm which had employed up to 25 staff in five branches in Bolton, Bury and Rawtenstall, entered administration on January 26.

The Bolton office on Lea Gate, Harwood, has since been closed and three members of staff made redundant.

Earlier this month the joint administrator Andrew Poxon, from Leonard Curtis Business Rescue and Recovery sold the business and assets of Weale and Hitchen Ltd relating to the Bury, Holcombe Brook and Ramsbottom offices to new firm Weale and Hitchen Online, which was set up by Mr Weale.

Mr Weale said: "Over the winter of 2016, it was clear that the established business model was not working, as increasingly we are seeing major changes in the way people are choosing to both market and purchase their homes. The digital age is upon us.

"This combined with the milestones reached in the business, we arrived at the point where we instructed specialist business advisors to help.

"It is with great regret that I had to make some difficult decisions when looking at the business on offer. I was unable to fund the loss making office based on Lea Gate, Harwood, Bolton, with the loss of a full time member and two part time members of staff.

"I felt, given the opportunity and with the support of the remaining staff, I could pick up some of the pieces and continue."

He added: "There are obviously repercussions with many elements of the process entered into but in taking sound professional advice, our customers have been unaffected by any changes, and going forward I am looking forward to engaging in the changes to the way estate agency operates and embracing the challenge, by enhancing the good reputation of Weale & Hitchen now and for the future."