Ernst & Young, administrators for Focus DIY, failed to find buyers for most of the UK home-improvement retailer's stores so the company plans to close. "While we have been successful in securing up to 900 jobs from the sale of 55 stores in three separate deals, finding a buyer for the whole of the business has not been possible," said joint administrator Simon Allport. "While the administrators are continuing negotiations for the sale of a number of stores across the group, the stock liquidation is likely to result in a number of Focus stores closing with remaining employees going through a redundancy process."

Related Summaries