Online estate agency Purplebricks Group has outlined plans to either sell or close its US business, after its losses swelled by 88% to £52m.
The agency, which is also retreating from the Australian market, admitted it had expanded too quickly over the past few years.
It made a total annual operating loss of £52.3m in the year ending 30 April. However, revenue rose by 55% to £136.5m.
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Including:
Prima, Real Living and Cantay Estates have received funding for 189-bed PBSA
Katy Davis named as an equity partner at the firm
The site will be turned into 261 short stay serviced bedrooms
Rising remote and video appeals offer an opportunity to reduce space
