Thursday 5 May 2011

The 178-store chain has appointed Ernst & Young as administrator.
Simon Allport, one of the administrators, said: "Focus will continue to trade as we look for a buyer for the group and its stores. It is very much business as usual."
He said the company has struggled due to low consumer confidence and a very weak housing market.
"Despite management's actions to tightly control costs and restructure the operations, unfortunately it has not been possible for the business to continue to trade outside of insolvency," Mr Allport said.
The company, run by former Iceland boss Bill Grimsey, warned last night that it had defaulted on a loan and was preparing appoint an administrator.

 

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