Retail chain known as B&M Bargains has agreed to take on the leases of 11 Focus stores and their employees.
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.