New Zealand-based shower manufacturer Methven has announced it is to receive £329,675 plus VAT from Focus administrators, after losing NZ$2m (almost £1m) when the retailer went under in May.
According to a statement on Methven's website, Focus administrator Ernst & Young has agreed to allow the failed retailer to pay Methven UK Limited half of the agreed sum on June 16 and the balance on June 30.

The company, which saw its profits drop 39% due to Focus' collapse, said it does not expect any further recovery.

A spokesperson for administrators Ernst & Young told DIY Week that Methven had made a 'retention of title' claim for stock that hadn't been paid for, and that other similar claims were expected. However, he could not explain why an agreement was made with this company so early on.

Although the financial advisory firm says it has made contact with all those owed money by Focus, no date for a creditors meeting has been set at this point.

The administrator has eight weeks from its appointment date on May 5 to provide a full list of creditors.