Alchemy rides to Countrywide’s rescue in deal that ousts current management

Peter Long, chairman of Countrywide

The troubled estate agency group Countrywide has been handed a £90m lifeline from private equity group Alchemy Partners in a deal that removes the company’s chairman and installs a new chief executive.

The group, which owns high street agency brands such as Bairstow Eves and Fulfords, is also seeking to borrow an additional £75m loan from its existing lenders with a four-year term.

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