Upstart Real Estate Brokerage Foxtons Bites The Dust

Foxtons, the real-estate firm that promised to change the game by charging 3 percent commissions to homebuyers, has shut down amid what it calls a downturn in the real estate industry.

The firm has laid off 350 of its 380 employees and may file for bankruptcy protection, according to a report on Bloomberg News.

Upstart Real Estate Brokerage Foxtons Bites The Dust