Administration looms for Focus

The retailer confirmed that Ernst & Young will be appointed administrators, as revealed by Retail Week earlier today.

Focus said: “Following notification of an event of default under the senior credit facility, and a realisation that there were no alternatives that could be explored any further, Focus directors have come to the conclusion that to protect the interests of creditors they have no choice but to seek protection through filing a notice of intention to appoint administrators.

“The directors have sought consent from the business’s lenders to appoint E&Y as the administrators. All stakeholders including staff are being informed.”