Sunday, May 29, 2011

More staff go at DIY stores

ANOTHER 37 employees have lost their jobs at the head office of doomed DIY retailer Focus.

That follows 107 redundancies at the chain's Crewe head office earlier in the month. The new cuts leave 140 staff at the Westmere Drive premises.

Focus fell into administration after failing to honour its debts, blaming a drop in consumer spending and the poor housing market.

A spokesman for administrator Ernst & Young said: "The 140 people remaining are continuing to support the business through the administration period."

Kingfisher, owner of competitor B&Q, has agreed to buy 31 of Focus's outlets, including the Uttoxeter shop.

If the deal is approved by competition regulators, staff will transfer to B&Q – saving about 25 jobs in the town.

Wickes has agreed to buy 13 stores, including the Tunstall branch in Marlborough Road, while discount chain B&M wants to buy the Barnfields Road shop in Leek.

Both Wickes and B&M say they will keep Focus staff on.

Ernst & Young has now called in specialists to liquidate stocks and close unsold stores – including those in Fenton, Trent Vale, Congleton and Nantwich – unless a buyer can be found at the eleventh hour.

Nationally, about 900 Focus jobs will be saved by the Kingfisher, Wickes and B&M deals, but that leaves 3,000 positions at risk at the remaining 123 shops.

According to its latest accounts, private equity-owned Focus had debts totalling �230 million in 2009.



Source: http://rss.feedsportal.com/c/32715/f/503368/s/155a6cee/l/0L0Sthisisstaffordshire0O0Cnews0Cstaff0EDIY0Estores0Carticle0E360A61730Edetail0Carticle0Bhtml/story01.htm

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