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Edeus has interested buyers
More than one potential buyer has been found for Edeus, according to managing director Alan Cleary.
Edeus Mortgage Creators Limited and Edeus Creators Limited were placed in administration earlier this month due to the conditions in the housing and financial markets.
Despite launching an asset quality assessment service in May, Mr Cleary said the Wolverhampton-based company had been dragged down by the fact it had a cost base that was largely driven by its mortgage origination platform.
Mr Cleary said when the period for expressions of interest in the business closed on Friday, Edeus had received more enquires than he had expected.
He was unable to confirm whether the interested parties were interested in the whole of the business, or a partial purchase, but said he was "really pleased" with how things had progressed so far.
Mr Cleary said: "There has been interest and the administrators are working with those parties now to come to a successful conclusion.
"We were confident there would be companies interested and that appears to be the case. More people were interested than I thought there would be."
Mr Cleary said it would now depend on who the successful bidder was for what direction the company would take.
He said he believed it was the strength and quality of the 25 staff remaining with Edeus that attracted the potential buyers. He also confirmed no further redundancies had been made at the firm.
Michael Bolton, chief executive of Edeus, was the only redundancy to be made when Edeus went into administration.
Allan Graham, joint administrator from KPMG Restructuring, said a number of parties had come forward and expressed an interest in Edeus Mortgage Creators and Edeus Creators and in the next few days he would assess this, with the aim of concluding a going concern sale of the business.
He said: "We continue to review the options available with regards to the technology aspect of the business."
Jo Roberts, director of Staffordshire-based IFA Need An Adviser, said: "Its systems and its staff are the main draw cand I am not surprised it has a couple of offers on the table."
