In a credit crunch don't buy an estate agency...

[tim123]

He was lucky. He timed it spot on, a few months later and he would have missed the opportunity.

He was also lucky in finding some numskulls who thought that the gravy train was going to last forever.

Even without the credit crunch, it must have been obvious that housing was overheated and was going to have to slow down soon

tim

[The Lone Gunman]

Maybe he is, he could have been called Mike

Or like my friends brother:
Surname: Hunt
Christian name: Isaac.

[Bagpuss]

"BC bought Foxtons, famed for its company Minis, for £390m in May 2007 at the height of the market in a deal that saw founder Jon Hunt personally pocket £360m."

Jon Hunt claims he is lucky - I am not so sure.

Maybe he is, he could have been called Mike

[Turion]

He was lucky. He timed it spot on, a few months later and he would have missed the opportunity.

As well as the woeful housing market eating into their profits, the problem here is that debt financing costs have rocketed since 07. These problems are also similar to those who unwisely took out very large mortgages.

[BrilloPad]

"BC bought Foxtons, famed for its company Minis, for £390m in May 2007 at the height of the market in a deal that saw founder Jon Hunt personally pocket £360m."

Jon Hunt claims he is lucky - I am not so sure.

[ThomasSoerensen]

shrewd businessmen to pay 10% interest on such a large debt

[milanbenes]

http://www.telegraph.co.uk/money/mai...5/cnfox125.xml

ooooops,

'The new owner of estate agent chain Foxtons, private equity group BC Partners, has been forced to call in banking advisers NM Rothschild to tackle the debt mountain that last year's highly leveraged £390m acquisition left the buyout group saddled with.',


ouch...

'BC Partners is now looking for ways to refinance more than £250m of debt provided by Bank of America and Japan's Mizuho, which is costing the private equity group annual debt interest payments of £26m.',


Milan.