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Foxtons under business review
26/08/2008
Estate agent Foxtons and BC Partners, its private equity owner, have appointed NM Rothschild to carry out a review of the business, according to reports.Options being considered for the estate agent include a renegotiation of current short-term loans into longer-term debt. This would help Foxtons improve its cash flow and provide more available working capital. Another option involves branch closures and redundancies.Foxtons, the London-based estate agency, was sold to BC Partners for £390 million in May 2007.
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