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UK DIY News

Focus keeps trading despite financial plight

ADMINISTRATORS for the troubled Focus DIY chain have told how the business is still continuing to trade and is operating well despite recent, serious financial troubles.

The Chesterfield store, at Ravenside Retail Park, on Park Road, is among 175 Focus stores nationwide affected as administrators Ernst and Young attempt to sell the business.

Focus’ seasonal product offerings are being replenished and the majority of suppliers are showing support and ensuring continued trading.

Simon Allport, joint administrator, said: “Stores have been trading at record levels and well above budget over the last week and continue to offer very competitive prices across the full product range.

“We are grateful to all the group’s loyal customers, suppliers and employees for their continued support.

“We have received a fantastic level of interest in the business and will continue to seek offers for the sale of the business.”

Administrators explained low consumer confidence and a weak housing market meant the business had not been able to trade outside of insolvency and had been forced into administration.

But Ernst and Young also revealed Focus’s strong seasonal products are being replenished and they have managed to sell 31 of the affected stores but would not confirm if Chesterfield was among those sold or if any sale would secure jobs.

Source : Derbyshire Times
www.derbyshiretimes.co.uk/news/local/focus_keeps_trading_despite_financial_plight_1_3376405

12 May 2011
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