News
Foxtons completes successful recapitalization
Foxtons confirms that, subject to FSA approval, it has agreed a consensual capital reorganization with its existing banks and shareholders. This reorganization delivers a sound balance sheet to complement Foxtons' strong trading performance and supports the company in continuing to build its position as London's leading estate agency.
Commenting, Michael Brown, Chief Executive of Foxtons, said: "Despite the credit crunch and recession, the strength of Foxtons brand and business model, and the quality of our people, mean we have continued trading profitably. Our strengths and future potential lie behind the capital reorganization, and we are delighted we will continue to have the support of BC Partners and our banks going forward. We continue to face the future with considerable confidence."