skip to main content
Find Insight DIY on
* * *

UK DIY News

Focus calls for Government investigation into credit insurance

Focus DIY, the UK home improvement retail chain, has called for a government investigation after the company’s credit insurers withdrew almost all cover for its suppliers.

Less than 5% of the stock Focus buys is now insured, down from about one-third in September. The company, owned by US private equity group Cerberus, said it had persuaded its 300 or so suppliers to stick to the standard 67-day payment terms, rather than demand up-front payment.

Bill Grimsey, chief executive of the 200-store chain, said he had met a dozen suppliers in the past fortnight to discuss the issue.

26 January 2011
view more UK DIY News
*

I find the news and articles they publish really useful and enjoy reading their views and commentary on the industry. It's the only source of quality, reliable information on our major customers and it's used regularly by myself and my team.

*
Simon Fleet - Sales & Marketing Director, Thomas Dudley Ltd
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry