Purplebricks Exits US as Losses Increase

Online estate agent, which is 20% owned by Neil Woodford, to withdraw from US market after less than two years

James Gard 3 July, 2019 | 11:00AM
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Purplebricks share price

Online estate agency Purplebricks (PURP) has announced plans to bow out of the US after less than two years. It's the latest example of the difficulties that housing firms are facing as economic and political uncertainty remains high and property prices fall.

It's been a torrid time for Purplebricks, which saw £100 million wiped off its value when it gave a profit warning in February. This was followed by the departure of UK chief executive Lee Wainwright and US chief executive Eric Eckardt.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Jupiter UK Mid Cap P GBP Acc4.71 GBP-0.41Rating
Jupiter UK Sml Coms Focus I GBP Inc3.82 GBP0.31Rating
Purplebricks Group PLC54.60 GBP0.00

About Author

James Gard  is content editor for Morningstar.co.uk