The damage done by Foxtons is not limited to this country.

In these turbulent economic times there is invariably some justice metered out where it is due. Excessive speculation has led to wholesale capitulation. THe high street is changing fast and only those with sound balence sheets will survive. Foxtons operating costs are presently in excess of operating profits and the inability to find a secure home for its £270,000,000 loan will mean high interest charges together with poor ratings from rating agencies and traders everywhere. Aside from the impending financial implosion at Foxtons there is a equally important issue which relates to the reputation of a British company abroad.

As we all know London and the south east is home to hundreds of thousands of foreign workers, many of whom will approach foxtons in the first instance to either buy or rent a home. Blogs on this site as well as professional experience tell the same story of being repeatedly ripped off and treated with utter contempt- lost deposits, unfair contract terms and overpaying for property are the main  complaints. Rather unfortunately Mr Hunt took this hideous organisation to the USA where the reputation of British commercial enteprise has suffered in consequence. Again sharp practice and mis-selling are the usual suspects and Foxtons again find themselves in court facing heavy financial losses.

As well as being the least liked company in this country I suspect the same epithet is now being applied in the USA.

THeir presence in the south east of England has been concern enough: their presence in the US is alarming for all those who care about our image and standards abroad.