A letting agent who closed his office owing thousands of pounds to landlords and tenants last night vowed: "No one will be left out of pocket."
The Argus yesterday tracked down Keith Youngs, who shut up shop without warning seven days ago, leaving a trail of angry clients across Brighton and Hove.
Mr Youngs, 28, faces claims of at least £40,000.
He told The Argus Youngs Owen, the firm he founded two years ago, had not folded and the office in Western Road, Hove, would be up and running again.
He said tenants had been asked to pay landlords direct from April 1 and that some company assets were being sold to pay outstanding debts.
He added: "There is now a third party acting on our behalf. No one will be left out of pocket."
The pledge cut little ice with clients chasing the firm for money they should have been paid over recent months.
The Argus revealed last month how Brighton County Court ordered the firm to pay £20,000 to the landlord of 15 flats in Embassy Court.
The company had been managing flats for Chris Camillin but he complained the agents had collected rents and deposits but not passed them on to him. Mr Youngs's appeal was thrown out on Monday.
Slogans still displayed in the firm's office window include "Landlords, we guarantee your rent" and "Finally a company that actually does what it says!"
However, several landlords told The Argus they had anything but a reliable service.
Dean Golding, who represented Australia-based Mr Camillin in court, said he also represented two other landlords preparing legal claims for a total £10,000.
Gary Harte started renting out his Brighton home through Youngs Owen last November, when he moved to Singapore. He claimed the firm owed him £5,000 in rent, as well as the tenant's deposit.
Another landlord said she was owed £4,500 and was considering taking legal action while another said he was due £3,200.
Juliana Zordan was one of three Youngs Owen staff told not to come in to work last Thursday. She was owed £836 in wages.
Mrs Zordan, from Brighton, started working as an administrative con-sultant at the firm two months ago as a favour to Mr Youngs, an old friend.
However, she soon found her time dominated by taking messages from angry landlords demanding money they were due.
She said: "It was just horrible. At times I feel sorry for him. He owes a lot of people money."
She estimated the firm was responsible for about 70 properties.
Another former Youngs Owen employee said: "We kept finding wads of cheques that had not been processed."
Natasha James started renting out a property in Portslade through Youngs Owen last May, but became concerned about the firm's finances.
She advised her tenant last week to pay any rent directly to her but said Youngs Owen phoned the tenant and persuaded her to pay them.
She said: "I'm owed £600. This may only seem like a small amount but it is mine and I want it back."
Mr Youngs said tenants and landlords had been told of the new arrangements. Ms James said neither she nor her tenant had been informed.
Tristan Farnworth, of Tisbury Road, Hove, said he was owed £770 in rent from last month and his tenants were missing their £850 deposits.
He started renting out a flat in First Avenue, Hove, last November through Youngs Owen but soon found it difficult to get his money.
He said: "I am very, very angry. I have a mortgage to pay and I need this money they owe me.
Malcolm Harrison, of the Association of Residential Letting Agents, said Youngs Owen was not registered with it.
He said: "This is another unfortunate incident where an unregistered letting agency has given the business a bad name."
Mr Youngs, who lives in St John's Road, Hove, used to work for letting agents Harringtons. He set up his own firm in 2001, with his accountant sister Yvonne Youngs. She quit earlier this year.
At the weekend a notice appeared in his office window, referring queries to Nick Wilson at Wilsonfield, 289 Abrydal Road, Suffolk, SL7 8LB.
Clients don not believe the address exists. The SL postcode relates to Slough in Berkshire.
Attempts by The Argus to contact Mr Wilson received no response.
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