UNCERTAINTY surrounds the future of Buxton’s Focus DIY store after the company went into administration last week.
The company announced its intention to appoint administrators last Wednesday, entering administration the following day. Now administrators Ernst and Young have said the Staden Lane store and the company’s other shops will continue to trade while a buyer for all or part of the business is sought.
A statement issued by Focus DIY last week said: “Following notification of an event of default under the senior credit facility, and a realisation that there were no alternatives that could be explored any further, Focus Directors have come to the conclusion that to protect the interests of creditors they have no choice but to seek protection through filing a notice of intention to appoint administrators.”
Customers are being warned through a statement on the Focus DIY website that the company are unable to give a refund on outstanding customer orders and cannot deliver goods where orders have been placed for home delivery.
The statement adds that: “The purpose of the Administration Order is to realise Group assets for the benefit of its creditors.
Whilst in Administration, the Joint Administrators are ultimately responsible for the Group.
“However, the existing management team will remain responsible for the day-to-day running of the Group.
“Focus has not ceased to trade and customers will be able to continue shopping at Focus stores across the UK.”
Focus DIY was set up by Bill Archer in 1987 and has 179 stores nationwide.