Focus DIY sells six stores to Asda
Support truly
independent journalism
Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.
Whether $5 or $50, every contribution counts.
Support us to deliver journalism without an agenda.
![Louise Thomas](https://static.independent.co.uk/static-assets/support-us/louise-thomas.png)
Louise Thomas
Editor
The troubled DIY chain Focus has offloaded six stores to the supermarket group Asda for an undisclosed sum. Focus, which narrowly avoided collapse in 2009, said the stores are in Aberystwyth, Clevedon, Gillingham, Stamford, Torquay and Woking.
The 180-store DIY retailer, which is burdened by loans of about £230m, needs fresh funds to invest in its new store format that has so far yielded promising results. Last week, Bill Grimsey, the chairman of Focus, said: "If there are selected assets that can be disposed of to create funds for future investment in the new stores that would be considered. And we are in discussions with many retailers including the big four supermarkets."
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments