THE FUTURE for staff at Buxton’s Focus DIY store looks uncertain after the company announced its intention to appoint administrators.
A company spokesperson said the store, on Staden Lane, will continue to trade as normal for the next five business days but the future of the business after that is down to the administrators.
It is currently unclear as to whether the store will stay open after that, and what will happen to the staff.
A company statement 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.
“The Directors have sought consent from the business’s lenders to appoint E&Y (Ernst and Young) as the administrators. All stakeholders including staff are being informed.”
Focus DIY was set up by Bill Archer in 1987 and has 179 stores nationwide.