The failure of Reed's family bank caused his descendants to sell the estate to the Greys of Backworth in 1821 to defray debts. The Greys then sold the estate to Hugh Taylor in 1861.
Reed's family bank's failure led to his relatives being forced to sell the estate to the Greys of Backworth in 1821 to pay off their debts. The Greys then sold the estate to Hugh Taylor in 1861, likely as part of a larger financial restructuring.