LSL Property Services, owners of Reeds Rains and Your Move, has today announced the closure of many of its estate agency branches.

They blame the prolonged downturn within the property market and state that offices in the north have been particularly badly affected and have proven ‘unviable’.

The decision will immediately cost the chain £1m to carry out.

At the same time as publicising the consolidation, LSL also stated pre-tax losses of £7.9m for the first half of 2012.

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