Administrators have agreed to the sale of another 13 Focus DIY stores in a bid to pay some of the debt incurred by the store. The sales have raised £8.4 million.
Travis Perkins which owns Wickes Building Supplies have bought the 13 stores, the location of which are yet to be named. This adds to the 31 stores which have been purchased by the Kingfisher group.
It has been confirmed that the retail units will be converted into Wickes stores by the end of the year bringing the total number of Wickes stores in the UK to 216.
Simon Allport from Ernst & Young, the administrators, has said that they are delighted to have secured the sale and that all 345 jobs at these stores will be saved. All 178 Focus DIY stores are still trading and further sales are currently at negotiation stage.
Allport went on to say that since the administration was announced the stores have been trading at record levels as customers take advantage of very competitive prices. He has thanked customers for their loyal support.
Meanwhile Geoff Cooper from Travis Perkins has commented that they have cherry picked the stores which are in the best locations and they expect the acquisitions will help them grow their business further.