IT’S business as usual “at the moment” according to one employee at the head office of Peverel Group in New Milton after the holding companies behind it went into administration owing £136 million.

Administrators Zolfo Cooper say the operating companies will be unaffected “therefore all services for residents, tenants, customers and landlords will continue to be provided as normal”.

Peverel, which employs 300 staff at its four offices at Queensway industrial estate off of Stem Lane, is the UK’s biggest property management company. The holding companies – Peverel Ltd, Peverel Group Ltd, Aztec Opco Developments Ltd and Aztec Acquisitions Ltd – went into administration on Monday.

This was after the company were unable to meet a demand from the Bank of America for repayment of a £124.6m loan, plus interest of about £11.4m.

The owner of Peverel, billionaire business tycoon Vincent Tchenguiz, blamed fraud investigators for the collapse, which came less than a week after his arrest as part of an inquiry into the failed Icelandic bank Kaupthing.

His claim comes after his brother Robert Tchenguiz threatened to sue the Serious Fraud Office, accusing it of ignoring his offers to co-operate before he and his brother were questioned.

The Peverel Group manages 190,000 properties and employs a total of around 4,000 people nationwide, including office staff, residential home staff and also those who service properties.

Zolfo Cooper said: “Following the appointment of the administrators, we are continuing to trade the holding companies as normal. There are no plans to release any of our employees during the trading period.”

Funds which are paid by residents are transferred into independent trust accounts, which were described by the company as “safe, completely independent and can only be used for the purpose of tenants’ respective developments.”

Zolfo Cooper wants to sell the business “as soon as possible in order to protect its stakeholders and the value of the organisation.”

Simon Appell, one of the joint administrators at Zolfo Cooper said: “Whilst the business itself was profitable at an operating level, the level of debt in the holdings companies was unsustainable. They described the move into administration as “unavoidable”.

However the operating companies are said to be unaffected and will continue to trade as normal.

Peverel’s website is equally reassuring, saying there will be “no effect on the day to day running of Peverel”.