A POLICE investigation has begun after the sudden closure of a property company which had a shop in Kingswinford.

Holmes The Property People is accused of going out of business owing more than £100,000 in unpaid rents, deposits and wages.

The company, which had a branch on Kingswinford's Market Street, appears to have ceased trading and owners have so far not responded to requests for an explanation of where the missing cash has gone.

Shock at sudden closure of property company

The case has now been passed to Action Fraud, a unit run by City of London Police.

Dudley South MP, Mike Wood, has also stepped in, he said: "This has clearly come as a huge shock and I have the greatest sympathy for all those affected.

“If these allegations are true, then it constitutes a serious crime and should be fully investigated by the police and Action Fraud.

“I have already spoken to the housing minister about this and will be having further meetings in parliament this week whilst trying to get to the bottom of just how many people in the local area have been affected.

“We need to work out whether there is any likelihood that Holmes intend to return deposits to tenants voluntarily, or if not, my constituents need to know what can be done to recover as much of their money as possible.”

It is also understood a specialist lawyer is representing a group of people considering a class action against Holmes to recover money they say they are owed.

As yet, Holmes The Property People has not responded to numerous requests for comment from the News.