Focus DIY Going Cheap

Focus DIY bought out for a pound.

The DIY retailer focus DIY has been bought up for a single pound, sounds bad doesn't it.

The DIY retailer has been purchased by a private equity firm called Cerberus, who have pledged to pay off the company's debt of 174 million paying 40pence in the pound to bondholders of the company.

The proud new owners of Focus DIY are bringing the former director of Wikes DIY in an attempt to revive the Focus DIY business.

This deal is a result of Focus DIY struggling in the DIY market and in January appointing the investment bank NM Rothschild to review the business. Profits for Focus DIY have slipped massively with sales dropping up to %5.

Lets see what happens to Focus do it all in the future.