Despite its celebrity clientele the home search company founded by Phil and his wife Fiona in 1996 is feeling the pinch
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Crunch affects Phil Spencer's home search business

Even celebs are not immune to the effects of the credit crunch it seems. A home-search company owned by Location Location Location co-presenter Phil Spencer is feeling the pinch, too.

The celebrity property guru is chief executive of Garrington Home Finders, which helps buyers find a new home and assists them through the process. Past clients include Keira Knightley and Kylie Minogue.

According to reports the firm is seeking a new source of investment. "There is a distinct possibility of an investor coming in and the business will continue," a representative of the firm told the Daily Mirror.

The company closed its Cheshire office in November.

Phil is currently working in Australia on a new show entitled Phil Down Under.

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