McCarthy & Stone boss predicts sale or flotation

摘要

The chief executive of retirement housebuilder McCarthy & Stone, has said the company will be floated or bought by private equity in the next few years, writes Tom Bill.rnLast week, about 60 lenders completed their takeover of the company after its £800m debt pile became untenable, but Howard Phillips said the banks were not interested in running the company in the long term.rnHe said: "There will come a point when the banks want to sell and that will either be through a flotation or the business could be bought by private equity. Whatever happens, the new owners need to be committed to the business."