Jobs lost in estate agent closure

The Principality owns Peter Alan estate agent

Estate agent Peter Alan has announced it is to cut 19 jobs and close its branch at Mumbles in Swansea.

The firm, which is owned by the building society Principality, has blamed the slowdown in the credit market for the decision.

The company said over the past decade it had become "the leading estate agency across south Wales with a 220-strong team across 25 branches".

However it said its business was "not immune to market conditions".

Business currently handled by the Mumbles branch will be moved to the Swansea city centre branch.

In addition, some marketing will take place at the Principality's Mumbles branch.

In the meantime, Peter Alan said it would be contacting customers to explain the reasons for the move and to assure them of their continuing customer service commitment.