BC Partners, the new owner of UK estate agent chain Foxtons, is considering hiring investment bank NM Rothschild to carry out a review of the agent's business amid the credit crunch and the price correction in the British housing market, the Financial Times reported on Tuesday in its online edition. The paper said that the Foxtons board will meet this week to make a decision on the issue. BC Partners acquired Foxtons for £390 mln (EUR 489 mln) in May 2007.
BC Partners, the new owner of UK estate agent chain Foxtons, is considering hiring investment bank NM Rothschild to carry out a review of the agent's business amid the credit crunch and the price correction in the British housing market, the Financial Times reported on Tuesday in its online edition. The paper said that the Foxtons board will meet this week to make a decision on the issue. BC Partners acquired Foxtons for £390 mln (EUR 489 mln) in May 2007.
Last week, Halifax Estate Agents, the residential brokerage arm of HBOS, said it would close 53 branches in the UK - more than a quarter of its total branches -by the end of the year as a result of the sharp drop in house sales over the last 12 months.
