Thu, 26 May 2011 | BUSINESS SALE
Following the administration earlier this month of failed home and DIY specialist Focus DIY, Ernst & Young were appointed to handle the disposal of the firm's property portfolio.
Although the administrators managed to shift many of the stores, around 120 remain unsold. An Ernst & Young spokesperson told trade publication Retail Gazette that, despite Gordon Brothers, the restructuring firm, being called in to liquidate the remaining stores, there was still hope that some could be sold.
So far, 55 Focus stores have been acquired by competitors, including B&M Bargains, Kingfisher – the owner of B&Q and Travis Perkins, the parent company of Wickes.
Ernst & Young's joint administrator, Simon Allport, said, “While we have been successful in securing up to 900 jobs from the sale of 55 stores in three separate deals, finding a buyer for the whole of the business has not been possible.
“While the administrators are continuing negotiations for the sale of a number of stores across the group, the stock liquidation is likely to result in a number of Focus stores closing with remaining employees going through a redundancy process,” he added.
This is an exciting opportunity to acquire a well-established restaurant business in a highly desirable area of Brentwood.
LEASEHOLD
This well-established UK business offers a unique opportunity to step into a leading position in its sector, benefiting from a substantial client base and strong referral rates.
This business offers a comprehensive turnkey solution in the building sector, known for its skilled workmanship, reliability, and extensive expertise in damp proofing, timber treatments, and structural waterproofing.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.