Deathwatch: Focus DIY in administration
Focus has muddled its way through the recession and was bought out for £1 by US firm Cerberus in 2007 and, despite spending a reported £200 million in an attempt to salvage the company, they have thrown in the fiscal towel and appointed administrators Ernst & Young. They have said that the stores will stay open for at least another five days, after which a decision will be made on the next move.
The Focus website stopped taking orders yesterday and a message was posted on the home page, announcing the arrival of the administrators. The company has 178 stores throughout the country, with 3,919 employees.
TOPICS: High Street News