Spencer's property firm laying off staff?

Phil Spencer's home search company is laying off staff as the economic downturn takes hold, one former employee has claimed.

The Location, Location, Location presenter and his wife Fiona founded Garrington Home Finders, which helps clients find and buy a new home, in 1996. Kylie Minogue and Keira Knightley are among its celebrity clients.

According to the Daily Mirror, there are fears that all eight staff at its Chelsea offices could lose their jobs as the property slump worsens. A buyer is being sought, but Garrington could go bust if no-one is found.

Garrington’s head of client services Tim Johnston said: "There is the distinct possibility of an investor coming in and the business will continue. That's the latest and we are waiting on final confirmation.

"I know there's some letters due to go out but I don't know the content of each individual one."

Spencer, who co-presents Location, Location, Location with Kirstie Allsopp, is currently working on another Channel 4 series based in Australia called Phil Down Under.