Sunday, June 22, 2008
Founder of Foxtons may be planning a rescue bid
Foxtons founder Jon Hunt is thought to be considering reinvesting in the estate agency chain he sold for £390m at the height of the UK property boom last year. Neither Hunt nor the purchaser, BC Partners, would comment, but sources speculated that the entrepreneur could be lured back at a discount to help Foxtons meet interest payments on its substantial debt. BC funded the deal with around £260m of debt and is thought to face crippling annual interest charges.