DIY group Focus’s administrator Ernst & Young has hired restructuring specialists to begin liquidating stock next week, Retail Week has learned.
Gordon Brothers has been hired to handle the process, it is understood. It is expected Closing Down Sales will follow. No Focus stores have yet been closed.
Since the DIY retailer collapsed earlier this month Ernst & Young has found buyers for chunks of the portfolio but has been unable so far to sell the business as a going concern.
Kingfisher has bought up to 31 of the Focus stores, Wickes 13 and B&M Bargains 11 stores.
Focus collapsed earlier this month after a credit default. 111 redundancies at head office were made at the time.
Gordon Brothers declined to comment. No comment was immediately available from Ernst & Young.
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