Ernst & Young sells Focus DIY stores to B&Q for £23m

Ernst & Young has sold 31 Focus DIY stores to B&Q owner business Kingfisher for c.£23m.

Kingfisher buys Focus DIY retail outlets - image: Focus DIY
Kingfisher buys Focus DIY retail outlets - image: Focus DIY

Simon Allport, Tom Jack and Alan Hudson from Ernst & Young were appointed joint administrators earlier this month and continued to trade the retailing business. 

Kingfisher is the parent company of B&Q and ScrewFix.

Allport said: "This deal represents an exceptional outcome for creditors of Focus group DIY. The joint administrators will continue to trade all of the group's stores and will seek further offers for a going concern sale of the group's business and assets."

The retailer avoided administration in 2009 whe BDO insolvency practitioners achieved a Company Voluntary Arrangement to restructure and repay a percentage of debts over a contracted period of time.

The administrators will be left with 147 stores following completion of the deal.



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