UK - Apollo to save troubled Focus DIY?

Apax and Duke Street Capital portfolio company Focus DIY is believed to be on the brink of a rescue deal with Apollo Management. The DIY retailer has struggled with its debt load for the last two years following worsening conditions in the home improvement market and was put up for sale earlier this year. Apax and DSC appointed Rothschild to dispose of the business. Apollo is understood to be in advanced talks regarding a rescue package.