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That Businessman Is Planning to Paint Over Banksy’s Giant Rat

02.22.10 Marina Galperina

The Telegraph contradicts BBC, reporting that developer Billy Palmer who bought the Liverpool pub donning Banksy’s 30-foot tall machine-gun toting rat actually has no plans to keep the art work.

Interested primarily in restoring the building’s Gregorian glory and parceling it up as luxury flats, Palmer said: “I’m not a fan of modern art.” The artwork probably won’t seem so welcoming to utlra-bourgeois residents… and we had our hopes up… Bye bye, ratty.