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Focus DIY deal given go-ahead

Published: 25 July 2007
The European Commission has cleared the way for US hedge fund, Cerberus, to acquire struggling diy chain, Focus.
It has been given the all-clear to buy the company and the deal will now be completed by the end of this month.

Hilco, a turnaround advisory company which specialises in retail, is to help Cerberus with its plans to revitalise the business.

Focus, which has been burdened with debt, had employed N M Rothschild to sell the company earlier this year after failing to reach a debt restructuring deal with its debtors.

Cerberus has already appointed former Wickes saviours, Bill Grimsey as chief executive and Bill Hoskins as finance director.

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