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Focus DIY in andministration







On the Left Wing

KIT NAPIER
Oct 9, 2003
7,094
Wolverhampton
BBC News - Focus DIY seeking administration

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.
 


stonski

New member
Jan 31, 2009
213
Cowfold
I bet Archer wont give a shit. he's made his millions. I feel sorry for the 3900 employees who will I'm sure wont get paid till all the creditors get their money.
 






Sussex Nomad

Well-known member
Aug 26, 2010
18,185
EP
Didn't he sell Wickes way above the valuation... 700 mill or something?
 


bhaexpress

New member
Jul 7, 2003
27,627
Kent
The reason they are in administration is that they are piss poor compared to firms like Homebase and B & Q, still, feel sorry for the employees who will lose their jobs.
 






beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,265
The reason they are in administration is that they are piss poor compared to firms like Homebase and B & Q, still, feel sorry for the employees who will lose their jobs.

i've never used Focus.

(pithy remark that probably isnt worth it. sorry)
 








Storer 68

New member
Apr 19, 2011
2,827
This made me larf when I thpought back to 1997 and applied it to BHAFC instead of Fukoff DIY

"We're seeing consumers adjusting their behaviour to take account of having less money and less job security," said Richard Hyman, strategic advisor to Deloitte.


We know the feeling
 


Storer 68

New member
Apr 19, 2011
2,827
Well I'm pissed off as we only have Focus in Burgess Hill and the closest DIY store will now be in Brighton.

They will have to share with the Gillingham branch
 


Twizzle

New member
Aug 12, 2010
1,240
Well I'm pissed off as we only have Focus in Burgess Hill and the closest DIY store will now be in Brighton.

Hassocks has a DIY store, and there's a large concern in Cooksbridge a few miles North outside of Lewes!

I would have thought a little research could have revealed that much - and I'm just telling you those off the top of my head because there are probably others.

IF you mean 'no huge superstore nearer than Brighton' then tuff - the smaller stores exist and you can use them.
 




portlock seagull

Why? Why us?
Jul 28, 2003
16,979
Archers bound to have lost some money though. Which is nice. Ow and try your local independent hardware shop - usually a lot better and cheaper you lot in burgess hill!
 


HoveHorace

Premiership please !
Jan 20, 2011
461
Hove
Hassocks has a DIY store, and there's a large concern in Cooksbridge a few miles North outside of Lewes!

I would have thought a little research could have revealed that much - and I'm just telling you those off the top of my head because there are probably others.

IF you mean 'no huge superstore nearer than Brighton' then tuff - the smaller stores exist and you can use them.

Surely the Selhurst store will be the first to go - but it will not be their fault of course !
 


BensGrandad

New member
Jul 13, 2003
72,015
Haywards Heath
Well I'm pissed off as we only have Focus in Burgess Hill and the closest DIY store will now be in Brighton.

The options open to you unfortunately are to use small expensive DIY stores like Upstairs Down Stairs but I would think one of the effiocient big chain stores like B & Q will look at buying that particular branch as it will be cheap and their nearest stores are Brighton or Crawley.
 








bhaexpress

New member
Jul 7, 2003
27,627
Kent
Surely the Selhurst store will be the first to go - but it will not be their fault of course !

I would have thought that the Selhurst one is very safe, they have plenty of people who can give them good advice about ducking payments and issues living nearby.
 



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