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Struggling DIY chain Focus DIY is expected to announce today that it is to be liquidated, after administrators Ernst & Young were appointed only weeks ago.
E & Y were appointed to find a buyer for the struggling chain, which was owned by US investment firm Cerberus Capital Management, but only managed to sell just over 50 stores, saving 900 jobs. But they were unable to secure the sale of the rest, and Focus DIY is set to announce that Gordon Brothers is to be appointed to oversee the liquidation of the rest of the company. Though buyers will still be sought for smaller parts of the chain.
The liquidation of Focus DIY will close 120 stores and will put 3000 jobs at risk. This is yet another casualty for the beleaguered British high street, which has struggled under depressed consumer spending and confidence.
