In Hertfordshire, two businesses operating under the name Mackay Property have gone into voluntary liquidation, with debts totaling almost £470,000. The companies, Mackay Property Agents Limited and Mackay Property Lettings Limited, which were based in Sawbridgeworth, stopped trading on 8 September 2026. Their former website is now redirecting to Muvin, which shares the same address on Bell Street and phone number, and lists Adam Mackay and Jamie Fisher as its co-founders.
Financial obligations and creditors
According to filings with Companies House, the combined debt of the two companies is £468,920. A significant portion of this, approximately £258,000, is owed to HM Revenue and Customs, while Funding Circle is claiming £135,000 and NatWest is owed over £51,000. Additionally, employees are owed nearly £11,000. The financial records of Mackay Property Agents Limited show an estimated deficiency of £436,539, whereas Mackay Property Lettings Limited has a shortfall of £32,580. Neither company anticipates having sufficient assets to pay preferential creditors. The agency company has debtors totaling £186,207 and a director’s loan account of £180,852, while the lettings business has debtors of £11,186 and a director’s loan account of £209,163.
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Adam Mackay explained to Property Industry Eye that his businesses were successful until the pandemic hit, forcing him to borrow money. “I set up Mackay Property in 2010 and ran it very successfully for many years without borrowings. As COVID took hold throughout 2020 and 2021 trading became much tougher and I borrowed monies to fund the business and to keep people employed,” he said. Mackay also cited increasing costs and regulatory challenges as factors contributing to the liquidation. “The corporate environment is now more challenging than ever for entrepreneurs with rising taxation, rates, wages and increased red-tape,” he stated, noting that around 300,000 UK businesses cease trading every year.
Transition to a new company
Adam Mackay has confirmed that he is now working with eXp World UK Limited, a separate active company, where he leads a team of eight agents. “I now work with eXp and run a sizeable team of eight agents under their banner,” he said, adding that his team has been nominated for four awards at an industry event. The Muvin website is still advertising properties in Sawbridgeworth and surrounding areas, and while it identifies eXp World UK Limited as the trading entity, it is unclear whether eXp has taken on any debts from the liquidated companies. The liquidators, Alexander Kinninmonth and James Prior of FRP Advisory Trading Limited, will oversee the process and determine the potential recoveries for creditors.