The DIY chain Focus has lined up an accountancy firm to run a review of the debt-laden home improvement retailer. Lloyds Banking Group is poised to appoint Ernst & Young to conduct an independent business review of Focus, which has 180 stores and debts of £230m.
Over the weekend reports emerged that the retailer's owner, Cerberus, had hired the investment bank Lazard to look at options to revive its fortunes. Lloyds provides some of Focus's £50m working capital facility. All the parties cited declined to comment.