Partners from BDO Stoy Hayward have spearheaded a CVA deal which will save the jobs of over 4,500 staff at Focus DIY. In a statement the company said that it was pleased to announce the approval of its CVA.

At a creditors’ meeting on Monday, plans to save Focus won between 93pc and 100pc backing from landlords. The move means that Focus will pay its creditors a proportion of what it owes them. Without 75pc of creditor support, the firm would have gone under.

Laurence and co will be pleased.