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B&M Retail buys 11 Focus stores

Published: 20 May 2011
Retail chain known as B&M Bargains has agreed to take on the leases of 11 Focus stores and their employees.
B&M Retail buys 11 Focus stores
Despite B&M joint md Simon Arora saying the retail chain had no plans to acquire the stores from administrators, Ernst & Young has today confirmed that B&M has now taken on 11 Focus stores, as well as associated members of staff.

Mr Arora told DIY Week yesterday that B&M planned to wait until the leases had been handed back to landlords and would then pick up the vacant property to help expand the company and reach its target of a further 100 stores this year.

However, joint administrator Simon Allport said: "We are delighted to have completed another sale of Focus stores, securing a further 211 jobs."

B&M is the latest in a line of retailers to have snapped up Focus real estate following its demise earlier this month. B&Q parent Kingfisher announced plans to acquire 31 stores for £23m just days after Focus appointed administrators, while Wickes plans to take on 13 outlets for £8.4m. The Range owner Chris Dawson has also expressed an interest but is yet to agree a sale on any Focus real estate.

Comments

Published prior to March 2014
By yvonne..
funny isnt it..in all the corespondance from focus( which isnt much i can tell you) not one even says we are closing..the latest one from the other day says that earnest and young are finalising their plans for the stores..nothing about closing!!!!
Published prior to March 2014
By focus employee
No mgmt buyout. In liquidation. Focus not getting sold as a going concern.....still no notice other than closure notice,alas still no idea when the final day will be...and no redundancy payout either!..guess I better watch sky news for latest info
Published prior to March 2014
By diyman
What happens to the Payless name ? surely supermarkets would want to pay millions to own this name alone !!!
Published prior to March 2014
By aynon
I would like 2 congratulate sky business 4 reporting the truth that the administrators have called in Gordon brothers 2start store closures although neither has the guts 2 confirm it. It makes me angry that after only 2 wks they throw in the towel and put us all on the scrapheap. There r people who have given 25-30+ years service 2 this company and 4 what they won't even get their long service awards. Nice thanks 4 all their had work and loyalty. Their only reward 2 be thrown on scrapheap with the rest of us. What a kick in the teeth. Its disgusting
Published prior to March 2014
By steve
Still no word to all the colleagues of focus re their jobs???? shouldnt we have had notice by now?? Typical focus dont care!!!!!!
Published prior to March 2014
By aynon
I work as a cleaner in a focus store who when made redundant won't get any money from the state as i have a 2nd job and my husband has a small pension as well as a job 2 keep a roof over our heads. Can someone please tell me while i look 4 another job how we r supposed to cope along with other focus staff in similar positions. I bet the bosses at top of focus don't have 2 worry
Published prior to March 2014
By Source
FLP2 is a subsidary where the board of directors sit, interesting.
Published prior to March 2014
By focus employee
diyman you name flp2 as our parent company......who are they?
Published prior to March 2014
By DIY WOMAN
THIS IS THE BILL GRIMSEY CONSORTIUM AND WILL BE THE MGMT BUYOUT NAME OF THE COMPANY I SUSPECT..?MAYBE EVEN GREATMILLS
Published prior to March 2014
By diyman
Gordon brothers called into look at rest of estate ..liquidation? Why is parent company flp2 not in administration??

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