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NEWS BRIEFS



GRAFTON, the DIY and builder providers group, is unlikely to bid for the debt-laden DIY chain Focus. NM Rothschild has been appointed to advise on a strategic review for Focus and is exploring a trade sale as part of its plans. While Grafton is likely to be invited to bid, it is unlikely to do so.

With 250 stores, Focus owes £180m to senior debt holders and a further £100m to mezzanine bond holders including Goldman Sachs. However, despite trading dif"culties in general among DIY chains in Britain such as King"sher-owned B&Q, Focus managed to report a 1.9% rise in like-for-lie sales in the 17 weeks to 2 January. Focus was spun off from the Wickes group in 2005 and it's known that Grafton, which owns the Woodies DIY chain in Ireland, ran the rule over the Wickes business at the time. However, it is believed that Wickes was sold for more than it was worth at the time. Focus is jointly owned by management and venture capital "rms Apax Partners and Duke Street Capital. Pro"ts at the group fell slightly to £42.7m last year on 5% fall in turnover to £700m.




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