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Shropshire Focus stores set to close
Friday 27th May 2011, 10:10AM BST.
Three local branches of Focus DIY stores, in Newport, Shrewsbury and Newtown, are now earmarked for closure with the loss of 51 jobs, after none were bought by the firm’s rivals.
Administrators Ernst & Young have confirmed a list of the 55 stores which have been acquired by rival companies, including B&M Homestore, Wickes, and B&Q owner Kingfisher.
Neither the Newport nor the Shrewsbury branches are on that list and Newtown’s branch is also missing, although neighbouring Leominster’s branch, which employs 17 people, is to be bought by Kingfisher.
All stores will slash prices for a fire sale this weekend, as Focus looks to clear its existing stock and prepare stores ahead of the sale of those to be saved, and the closure of the remainder.
Joint administrator Simon Allport said: “We have been working hard to sell the business as a going concern and to maximise value for creditors.
“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.”
UK retailers are facing one of the most challenging retail environments in recent times and the DIY sector has become highly competitive, with only the strongest players being able to thrive and survive.
The administrator is understood to be continuing its hunt for a buyer for the remaining stores, while employees will be offered support and advice throughout the redundancy process.
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Bye bye Focus…you managed to over-price yourself to death. The DIY Army has spoken…
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sadly be missed newtown diy wonder if asda have got that now bit competion for morrisons and tesco :)
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Poundland Percy, Correct…..
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