A newspaper claims that a short lets management firm that handles properties let on Airbnb and similar platforms is scrambling for new funding - and its parent firm has filed a notice to appoint administrators.
The Sunday Times says Hostmaker - which handles online listings and day-to-day property management services for owners who let out rooms or whole houses on short let platforms - faces “a cash crunch” despite having raised £23m in two fund-raising rounds since its launch six years ago.
The paper says Hostmaker has lost over £20m in the past three years.
“To buy time, the parent company has filed a notice of intention to appoint administrators at the High Court, giving it 10 days to resolve issues with creditors” claims the paper.
Hostmaker is quoted as saying it was in talks “with several investors.”