Focus DIY has launched a CVA deal with its landlords after failing to persuade them to cut rents.
During the past eight months the retailer has been trying to persuade its landlords to accept less rent for its 38 closed stores, which cost the business £12m a year.
However, the company has turned to an increasingly popular insolvency process – a company voluntary arrangement – to push the deal through.
Bill Grimsey, chief executive, said: 'They [the landlords] didn’t accept the deals we put in front of them and they could have done. We’ve tried to be fair.'