The sale of stricken Focus DIY continues to make the news with reports that it is in advanced talks with a US buy-out group that specialises in distressed debt investments.
According to today's Financial Times, the diy group is in discussions with Apollo Management to construct a deal which will save it from bankruptcy. Focus is said to have debts of £280m.
A source close to the situation is quoted as saying that a deal could be announced by the end of the week.
The home improvement company has been a reported target of North American retailers, Lowes and Home Depot.