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Retail Spotlight - Focus in Administration - Updated


Posted At: 06 May 2011 10:10 AM
Related Categories: Administrations, Retail, Retailers


Following the recent news that Focus has collapsed into administration on 5th May 2011 FSP has reviewed and updated the retailer record on SnapShop.  Below is a summary of the retailer profile and highlights of the administration:

• On 7th March 2011 - Disposed of six stores to Asda in a bid to raise funds

• On 15th March 2011 – Focus wins an agreement from most of its landlords to carry on paying monthly rents

• On 4th May 2011 – The Focus DIY chain said it intends to go into administration.

• On 5th May 2011- Collapsed into administration putting 3,919 jobs at risk. Administrators blamed low consumer confidence and a very weak housing transaction market that impacted on Focus and placed considerable pressure on sales and margins

• On 6th May 2011 - Owner of The Range, has publicly revealed interest in buying Focus DIY's stock and stores.

• On 6th May 2011 - Kingfisher bought 31 Focus DIY stores from administrator Ernst & Young

• On 11th May 2011 - Administrators received a “fantastic level of interest” in the business as it seeks offers for a sale

• On 17th May 2011 - Wickes agreed to acquire up to 13 leasehold properties and associated colleagues from the administrators of Focus for £ 8.4 million

• On 20th May 2011 - B&M Bargains acquired 11 Focus stores

• On 23rd May 2011 - administrator Ernst & Young hired restructuring specialists (Gordon Brothers) to begin liquidating stock

• On 25th May 2011 – administrators are expected to announce the closure of more than 120 stores with the loss of up to 3,000 jobs

This appears to be the largest retail administration of 2011, and follows the collapse of Oddbins, British Bookshops and Stationers and Alworths. Highlights of retail news are reported in SnapShop Monthly.  Find out what SnapShop is all about and receive SnapShop Monthly for free for three months by signing up for FreeZone here

It is apparent that Focus is not accepting any online orders, on the website it said “Following 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 Directors have come to the conclusion that to protect the interests of creditors they have no choice but to seek protection through filing a notice of intention to appoint administrators.”

For more information and up-to-date news please subscribe to SnapShop online at any time.

Retailer Profile - Focus
Founded in 1987, Focus is a DIY retailer with over 170 stores in the UK positioned in the middle sector of the DIY market.

Focus trades off 8.2m sq ft of selling space (1.9m sq ft of which is outdoor), with average store selling area of 32,000 sq ft. Its target market is located in market towns of 20,000 to 80,000 population or edge-of-urban areas. 

Cerberus bought Focus in June 2007 who has since performed a strategic review of the business. As a result, a CVA was agreed in 2009 on the agreement that it’s 20 or so 'dark stores' (non-trading buildings) are disposed of before the end of the year.

In May 2011, Focus DIY fell into administration Ernst & Young were appointed as administrators and is looking for a buyer for the group and its stores.

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The opinions expressed herein are the personal opinion of the author and are not intended as statements of fact and do not represent the view of SnapShop or Pragma in any way.


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