Kingfisher swoops for 31 Focus stores

KINGFISHER, the owner of B&Q, is to buy 31 stores from the administrators of troubled rival Focus DIY for £23m.

Crewe-based Focus went into administration on Thursday after a struggling for months under a dual millstone of high debt and tough trading. The Manchester office of Ernst & Young is handling the insolvency.

Joint Administrator Simon Allport, said: “This deal represents an exceptional outcome for creditors of Focus Group DIY.

“The joint administrators will continue to trade all of the group’s stores and will seek further offers for a going concern sale of the business and assets.”

B&Q, the UK’s leading DIY retailer, said it would start refitting the vacant properties and then open them later in the year.

Ian Cheshire, Kingfisher chief executive, said: “This is a good opportunity for us to accelerate our previously announced plans to expand B&Q into carefully targeted UK locations where we currently have no store representation.

“This will bring better choice and lower prices to customers and provide secure jobs and career prospects in these local communities.”