Cerberus-backed Focus DIY goes into administration

The company has struggled with a large debt burden for several years and administrators from Ernst & Young will assess if the business can continue.

Focus DIY follows the collapse of a number of retail firms including Endless' portfolio company Amdega, which was put in to administration at the end of April. In addition to suffering from a large debt burden, Focus DIY has been hit by a fall in demand and competition from firms such as Homebase.

The day after the company entered administration, B&Q-owner Kingfisher announced that it would acquire 31 of Focus DIY's stores for £23m.

Previous funding
Cerberus Capital acquired the already struggling retail chain from Duke Street and Apax Partners in 2007 for £225m. The investor acquired the debt at a substantial discount and the equity for £1.

Duke Street initially backed the company in 1997 and supported a number of add-on acquisitions. Apax acquired a stake in the company after completing a £1bn refinancing and acquisition deal.

Company
Focus DIY is a retailer specialising in do-it-yourself home improvement products and can be traced back to 1987. The company is headquartered in Crewe.

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