Focus failure hits Halfords for £7.5m

Halfords, the car parts and cycle chain, yesterday revealed a £7.5 million hit from the closure of Focus DIY, which fell into administration last month.

The charge relates to guarantees given before July 1989 to landlords of properties leased by Payless DIY, which became part of Focus DIY when both Halfords and Payless were under the ownership of the Ward White Group. The charge will be paid over the next three to five years.