1 9 8 8 , ▁in ▁a ▁bid ▁worth ▁ 7 2 ▁p ence ▁per ▁share . ▁By ▁this ▁time ▁Peter ▁Gold ie ▁had ▁been ▁appointed ▁Chief ▁Executive ▁of ▁British ▁and ▁Commonwealth ▁and ▁therefore ▁he ▁took ▁no ▁part ▁in ▁negoti ations ▁over ▁the ▁take over ▁of ▁Ab aco . ▁In ▁February ▁ 1 9 8 9 , ▁Ham pt ons ▁acquired ▁the ▁resident ial ▁ag ency ▁business ▁of ▁H alls ▁Res ident ial ▁and ▁the ▁business ▁of ▁Ne ale ▁and ▁Ald ridge . ▁From ▁early ▁ 1 9 8 9 ▁the ▁company ▁central ised ▁account ing ▁and ▁administration ▁functions ▁with ▁the ▁regional ▁administration ▁offices ▁of ▁the ▁prede cess or ▁partners hips ▁being ▁closed ▁and ▁responsibility ▁transferred ▁to ▁a ▁new ▁central ▁administration ▁department ▁in ▁Gu ild ford . ▁Wh ilst ▁this ▁transition ▁was ▁not ▁without ▁its ▁issues , ▁by ▁early ▁ 1 9 9 0 ▁the ▁problems ▁were ▁resolved . ▁ ▁British ▁and ▁Commonwealth ▁went ▁into ▁administration ▁in ▁June ▁ 1 9 9 0 ▁and ▁despite ▁the ▁direct ors ▁having ▁assemble d ▁a ▁management ▁buy out , ▁Ham pt ons ▁was ▁purchased ▁by ▁Br istol ▁and ▁West ▁Building ▁Society ▁in ▁September ▁ 1 9 9 0 . ▁Lam bert ▁Smith ▁Ham pton ▁was ▁subject ▁to ▁a ▁management ▁buy out ▁in ▁early ▁ 1 9 9 1 ▁for ▁a ▁price ▁tag ▁of ▁£ 5 ▁million . ▁ ▁Due ▁to ▁difficult ▁trad ing ▁conditions , ▁the ▁company ▁announced ▁at ▁the ▁beginning ▁of ▁ 1 9 9 3 ▁its ▁plan ▁to ▁close ▁some ▁of ▁its ▁branches ▁during