[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Friday, 12 January 2007, 08:16 GMT
Focus DIY looks at sale options
Man painting roof
DIY firms have found it tough as competition has risen
Retailer Focus DIY has appointed bankers Rothschild to advise it on a potential sale of the business.

The firm said this was one of a number of options which it was considering as it seeks to restructure its finances.

Focus DIY is currently in talks with its lenders and shareholders about ways of restructuring its debts and altering its equity structure.

Its trading has improved in recent months and saw like-for-like sales rise 1.9% in the 17 weeks to 2 January.

Evaluation time

Like other DIY retailers, Focus has struggled in the past 18 months as many consumers have prioritised spending in other areas and supermarkets have moved into the sector.

Focus said the market still remained "challenging" but that sales had picked up since the summer and that it had grown market share.

"Focus has traded well over the last two years," said Steve Johnson, its chief executive.

"With the support of a number of key financial stakeholders, the board is now keen to evaluate the most appropriate ownership and financing structure for the group going forward."

Established in 1987, Focus Do It All merged with Wickes in 2000 but subsequently sold the business to Travis Perkins in 2005.


SEE ALSO
DIY: RIP?
30 Mar 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific