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Focus Diy Seeking Administration

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http://www.bbc.co.uk/news/business-13283501

The Focus DIY chain has said it intends to go into administration.

The move follows "notification of an event of default under the senior credit facility, and a realisation that there were no alternatives that could be explored any further".

Focus DIY was founded by Bill Archer in 1987, with six stores in the Midlands and the north of England.

The company now has 178 stores in England, Scotland and Wales, and employs more than 3,900 staff.

Focus said its directors had sought consent from the firm's lenders to appoint Ernst & Young as the administrators.

All stakeholders including staff are being informed.

Focus used to own the Wickes chain, which it bought in September 2000 before selling it in February 2005 to Travis Perkins.

Private equity firm Cerberus bought Focus in 2007 for £1. It was heavily indebted at the time and Cerberus said it would pay off the firm's £174m of debts.

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When you're all quite finished :rolleyes:

What does this mean for the stores and their employees? Does administration typically spell the end, or do they simply do some financial jiggery pokery and carry on trading.

Edited by pete.hpc

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When you're all quite finished :rolleyes:

What does this mean for the stores and their employees? Does administration typically spell the end, or do they simply do some financial jiggery pokery and carry on trading.

It means the management are out and the Accoutants are running the place...they will decide what to do once they have a handle on the situation.

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When you're all quite finished :rolleyes:

What does this mean for the stores and their employees? Does administration typically spell the end, or do they simply do some financial jiggery pokery and carry on trading.

It means their future is very blurred and hard to define.

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When you're all quite finished :rolleyes:

What does this mean for the stores and their employees? Does administration typically spell the end, or do they simply do some financial jiggery pokery and carry on trading.

Pah! Hope the store stays open - the oldies here have got a 15% voucher :)

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It certainly paints a grim picture for the high street

This thread is plumbing the depths of bad taste.

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For the first time I went into our local Focus on Easter Sunday, which was the original of the previous Great Mills (New Mills) store and came out feeling like a valued customer having been treated politely and courteously. Every other time I have felt an inconvenience to the assistants who seemed reluctant to serve or break off from mobile phones or polishing their nails.

Too little too late?

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For the first time I went into our local Focus on Easter Sunday, which was the original of the previous Great Mills (New Mills) store and came out feeling like a valued customer having been treated politely and courteously. Every other time I have felt an inconvenience to the assistants who seemed reluctant to serve or break off from mobile phones or polishing their nails.

Too little too late?

Its never been the same since Fred Prescott left

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For the first time I went into our local Focus on Easter Sunday, which was the original of the previous Great Mills (New Mills) store and came out feeling like a valued customer having been treated politely and courteously. Every other time I have felt an inconvenience to the assistants who seemed reluctant to serve or break off from mobile phones or polishing their nails.

Too little too late?

The customer service got better as the shelves got emptier. Our branch has looked sparsely stocked for some time.

Anyway, serves them right for keep papering over the cracks.

Edited by mitchbux

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Isn't the DIY business roots dependent on people moving house, and hence generating a demand for DIY products, as the new owners mortgagees all want new kitchens, bathrooms, decoration, etc.? The fact that they are falling on hard times is a sign of just how slow the home market has become.

Expect to see other firms that supply 'new house' related products in a similar situation in the near future (e.g. carpet retailers etc.)

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It means the management are out and the Accoutants are running the place...they will decide what to do once they have a handle on the situation.

The accountants will paper over the cracks.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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