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Focus stores could be sold off to raise funds for expansion

Published: 18 November 2010
Reports suggest other retailers are being sounded out about acquiring some of the DIY chain's locations, as its owner Cerberus considers additional investment.
Focus stores could be sold off to raise funds for expansion
Cerberus, which acquired Focus in 2007 for £1, has employed advisory investment bank Lazards to conduct a review of the business, while it considers its options.

It has been speculated that one of the avenues being explored is the sale of a number of Focus stores in order to raise funds for further investment in the business. A report in the Independent yesterday suggested that several retailers have already been sounded out to see if they are interested in purchasing some of the chain's outlets.

Cerberus, who took on the majority of Focus' £230m debt as part of the acquisition three years ago, is said to be keen to complete the sale of some of the stores by the end of November.

Focus' roll out of its Genesis and compact format stores has proved successful to date and the DIY chain plans to continue with this expansion plan. However, the Independent reported that the situation had come to a head because the DIY chain's management team believe it would take an extra £40m to turn the business around.

While Cerberus would not comment on reports, it is understood that no Focus stores have been earmarked for closure at this stage.

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