Troubled Fads begins closure of 26 branches

High street DIY group Fads is in the process of closing 26 stores.

The group, parts of which are currently in administration, shut 14 outlets in December and is pruning another 12 this month.

Joint administrator David Mond, of Manchester-based Hodgsons, said the closures process marks the end of the restructuring.

There remain 73 stores in the chain, with another four sites sub-let to other operators.

'We are in negotiations with several parties, both for all and for parts of the business,' said Mond. Potential purchasers ranged from venture capitalists to trade buyers, he added.