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Focus pursuers show colours

Cerberus Capital Management, the private equity firm is believed to be working closely with Hilco the US distressed debt specialist, in its bid for Focus DIY.

An announcement about the future of the group that ir currently labouring under £280m of debt, is expected by the end of next week.

The DIY retailer was put up for sale in January 2007, after it became clear that its sales were not growing fast enough to service its debt burden. Its banks set a JUune deadline for the deal.

01 June 2007
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