LENDERS have taken control of estate agent Foxtons after agreeing to slash its huge debt burden, it was reported.

Jan 9 2010 Huddersfield Daily Examiner

Foxtons was sold to private equity firm BC Partners by founder Jon Hunt for £360m in May, 2007, at the height of the property market – which has since been hit badly by the credit crunch.

But newspaper reports said BC Partners has now been forced to take a minority stake in the business after more than a year of talks with lenders Bank of America and Japanese bank Mizhuo.

Foxtons, which is named after a village in Cambridgeshire, has 24 offices across London, Middlesex and Surrey.