From today's FT:
Debt-laden Focus put up for sale in troubled DIY market
Focus DIY has put itself up for sale, as the home improvement group struggles to escape burdensome debt. The retailer, chaired by founder Bill Archer and owned by its management and private equity groups Apax Partners and Duke Street, has hired Rothschild to advise it in discussions with creditors and shareholders.
Its £280m of debt is seen as unviable given the troubled state of the do-it-yourself market.
Blah blah blah
[Archer owns 11.5% of Focus]
Debt-laden Focus put up for sale in troubled DIY market
Focus DIY has put itself up for sale, as the home improvement group struggles to escape burdensome debt. The retailer, chaired by founder Bill Archer and owned by its management and private equity groups Apax Partners and Duke Street, has hired Rothschild to advise it in discussions with creditors and shareholders.
Its £280m of debt is seen as unviable given the troubled state of the do-it-yourself market.
Blah blah blah
[Archer owns 11.5% of Focus]