Tidying up store portfolio

Focus DIY, the British DIY multiple taken over by the financial investor Cerberus, has identified 52 unprofitable DIY stores that are being managed by the financial services provider Hilco until they are either sold or closed down. The operation is to be completed in the first quarter of 2008. The company believes it will in future be in a position to generate growth with the remaining 203 branches of Focus. Chief executive Bill Grimsey is convinced that the new capital structure and the necessary investment expenditure will give the company the potential to become one of the most successful DIY retailers.