ING and Royal Bank of Scotland, the Dutch and British banks, are the most likely to win the financing mandate for Focus Wickes, a UK do-it-yourself retailer, preparing a recapitalisation as an alternative to sale.

ING and RBS co-led Focus Wickes' last recapitalisation in November 2002, which also saw Duke Street Capital, the UK buy-out group, reduce its stake to private equity rival Apax Partners.