British home improvement retailer Focus DIY is to close with the possible loss of up to 3,000 jobs, after administrators were unable to find buyers for the bulk of its stores, they said Wednesday.
 
Administrators at Ernst & Young said they had appointed retail consultants Gordon Brothers to advise on the sale of all Focus DIY's stock with a view to shutting the chain.

The closing down sale will begin this weekend.

"While we have been successful in securing up to 900 jobs from the sale of 55 stores in three separate deals, finding a buyer for the whole of the business has not been possible," joint administrator Simon Allport said.

"While the administrators are continuing negotiations for the sale of a number of stores across the group, the stock liquidation is likely to result in a number of Focus stores closing with remaining employees going through a redundancy process."

When it went into administration earlier this month, Focus DIY employed 3,919 people at 178 stores.

The group has been suffering for years, with a weak housing market and stiff competition from rivals.

Reuters