Following the announcement on 14 January 2008, the board has explored all of the available strategic options including the possibility of refinancing the group's borrowings, options for sale and an equity raising. 

However, changes in market sentiment has meant that it has not been possible for the Group to reach an agreement with its lenders and other creditors.

James Tucker and Myles Halley, both of KPMG are the administrators.

The administrators of the company expect to effect a sale of the Insurance division of the Group, Erinaceous Insurance Services Limited, to a company owned by the company's lenders.

The Residential Management division (Residential Management Group Limited and its subsidiaries) and Property Maintenance division (Erinaceous Property Maintenance Limited) also remain outside of any insolvency process and continue to trade as normal.