Realogy dissed by the Times

Realogy, parent company of Coldwell Banker and Sotheby’s, is trying an end run around its creditors in an attempt to stave off bankruptcy. Will it work? Will Apollo Management, which owns Realogy, survive long enough to pay off its debts? This article suggests that Carl Ichan, among other debtors, doesn’t seem to think so. I certainly wouldn’t want to gainsay Mr. Ichan.

2 Comments

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2 responses to “Realogy dissed by the Times

  1. Anonymous

    Chris,

    Can you explain the logistics of what will happen to properties currently listed with Sotheby’s, etc. when Reology folds?

  2. christopherfountain

    Yet another question I have no answer to. Presumably, under bankruptcy protection, business would continue as usual, contracts would continue to be honored, etc. The companies don’t just disappear. But will there be cash to pay for advertising? Most important, pay commissions to their agents? I assume there will be – it’s the parent company, Apollo Management, that created this mess by saddling Realogy with junk debt. The real estate companies themselves are okay, although suffering, like everyone else in the industry, a steep decline in earnings. I would think that those companies are an asset, not a liability, and so someone will want them. Of course in this market, no one’s going to pay a lot for that muffler. Like so much of life these days, it should be interesting to watch developments unfold.