THE owner of the B&Q DIY chain, Kingfisher, has agreed to buy up to 31 stores from Focus DIY for £23m.
Crewe-based Focus went into administration on Thursday after being was hit by the weak housing market and low consumer confidence.
Administrators said the deal represented an ‘exceptional outcome’ for the firm’s creditors. Focus operates nearly 180 stores in the UK which are continuing to trade, including in Fareham and Petersfield, and employs almost 4,000 staff.
It is not known which stores will be taken over.