Focus DIY claims supplier victim

by Rachael Singh

More from this author

14 Jun 2011

  • Comments
Jason Baker

FOLLOWING THE COLLAPSE of Focus DIY, administrators from FRP Advisory have been called to distributors Proteam UK.

Jason Baker and Geoff Rowley, partners at FRP Advisory, were appointed yesterday to the Tonbridge-based company, which supplies products to DIY stores and supermarkets.

Commenting on the reasons for the administration, Baker (pictured) said: "A large proportion - approximately 35 percent - of Proteam UK's sales came from Focus, the DIY chain, which itself entered administration in May 2011.

"As a result of the loss of sales from this major client, Proteam UK experienced serious liquidity problems and was unable to continue to trade without the protection of administration."

Ernst & Young administrators were appointed to Focus DIY in May this year. They were able to sell 55 stores out of 178 to various outlets including Kingfisher and Wickes. The administrators are in discussions to close the retail chain.

FRP Advisory administrators will continue to trade Proteam UK, which has 50 staff, while seeking a buyer. There are no planned redundancies.

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Divisional Financial Controller - Social Sciences

University-of-Oxford-120x60University of Oxford - Oxford - £65k per year

 
 
 
 
 
 
 
 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.