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Focus DIY Sold For 1.00 Lol #158943
18th Jun 2007 5:39pm
18th Jun 2007 5:39pm
Joined: Aug 2004
Posts: 22,315
Moreton/Beirut/Mobile
MattLFC Offline OP
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MattLFC  Offline OP
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Joined: Aug 2004
Posts: 22,315
Moreton/Beirut/Mobile
Originally Posted by BBC News
The UK's third-largest DIY chain, Focus, is set to be sold to US hedge fund Cerberus for just 1 after suffering serious financial problems.

Current owners Apax Partners and Duke Street Capital have agreed to sell their Focus shares for a nominal sum to end their involvement with the firm.

The proposed deal would also see Cerberus pay off about 225m in debt amassed by the retailer.

Rising interest rates and a weak DIY market have hurt the 250-store firm.

The proposed takeover would see new management being brought in to run the business, but it is not yet clear what the implication would be for the firm's workforce of more than 7,000.

Looooool!

BBC News Report

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Re: Focus DIY Sold For 1.00 Lol [Re: MattLFC] #158964
18th Jun 2007 8:52pm
18th Jun 2007 8:52pm
Joined: Dec 2006
Posts: 847
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CustomIce Offline
The IceMan commeth
CustomIce  Offline
The IceMan commeth
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Oooooh! 225Mil debt! no wonder the brombrough one shut and became a tescos home!

Re: Focus DIY Sold For 1.00 Lol [Re: CustomIce] #158965
18th Jun 2007 8:54pm
18th Jun 2007 8:54pm
Joined: Nov 2003
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Mark Online Reading

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Mark  Online Reading

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Posts: 21,231
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Half price garden furniture on the telly lol


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