CREDITORS of independent Oxford estate agency James C. Penny are being asked to place the company into liquidation after it became insolvent.

Bridge Business Recovery is handling the winding up of James C. Penny Ltd, which has offices in Walton Street, Oxford and High Street, Burford. Bridge spokesman Danny Wright said he understood some directors wanted to buy the goodwill and continue to operate the business, although this was disputed by director Istikhar Hussain.

Another Oxford estate agent, Cluttons, has closed its residential sales office in Gloucester Green, but declined to reveal how many jobs are going. However, its lettings business is continuing.