Big companies booking a Relocation company in Dubai for their employees, be aware that it may be dangerous to sign with a real estate company which opens up a relocation division and then have it not lasting in the market.
The Dubai-based property agency S&K Estate Agents, better known as Smith & Ken, yesterday confirmed that it has filed for bankruptcy. A note was left on the door for staff to find in Dubai on Wednesday morning.
All 80 staff in both its Dubai and Los Angeles offices have lost their jobs and a liquidator has been appointed to handle the firm’s affairs, according to a statement issued by a public relations company acting on behalf of one of the shareholders.
“Unfortunately we have had no other choice but to file bankruptcy and hand over accounts and any remaining income to our liquidator,” the statement from the shareholder said. “Simply put, the revenue being generated by the business drastically reduced over the first half of 2015, without enough income to cover operational costs. Read more here
