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Kingfisher to Close 15 Stores in Next Two Years

Castorama store 725 x 500

Kingfisher has confirmed that it considering the closure of 15 underperforming stores over next two years in today's full-year results announcement.

The company said it will take advantage of lease expirations and break options for closing stores.

Outgoing CEO Véronique Laury said in this morning's analyst presentation that nine of the store closures would be at Castorama.  No further details were given.

In the analyst presentation, a footnote indicates that eleven stores in total will close in France, suggesting that two French Brico Dépôt stores may also be at risk, although this has not been confirmed.

Analyst presentation footnote:

/live/news/wysiwyg/KGF closures.JPG

 Source : Insight DIY Team

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20 March 2019

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