This article on the Guardian website questions the role of private equity firms and the fury that has come with the way DIY focus was managed.
“An analysis by the Observer has found that one private equity firm, Duke Street Capital, which made an initial investment of £68m in 1998, took £700m out of Focus after presiding over a series of capital and debt restructure”
This sounds like households buying a house at 8 times their salary and a few years down the road they have lived well but can’t afford it any-more. Or equity taken out of the house at unrealistic house prices and negative equity after a decline in house prices is another way of explaining what went wrong.
Recently I wrote an article I work at Focus DIY Stores what should I do and I hope it gives some direction for Focus’ employees who are not that fortunate to survive the liquidation.
The full guardian article: Focus DIY chain collapse sparks fury over role of private equity | Business | The Observer