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Travis Perkins to close 30 branches

TP Brands

Travis Perkins has this morning announced plans to shut more than 30 branches, with the loss of 600 jobs.

The parent company to Wickes and Toolstation which employs over 28,000 people in the UK, announced the plans as it raised cautioned over its full-year results, in which they said underlying earnings were "slightly" lower-than-expected amid  period of “uncertain” trading.

Branches are expected to close across its brands, including Travis Perkins, Benchmark its kitchen and joinery business and plumbing and heating businesses BSS and PTS, as a result of a "disappointing" performance in Q3.

The company also said that 10 of their smaller distribution centres will also shut down and it was reviewing its entire plumbing and heating division.

It did say that measures would be taken to relocate some of its affected staff to other Travis locations.

A company representative said "Given that levels of future demand remain difficult to predict, the group has chosen to implement a number of efficiency programmes and branch closures to further optimise the network. This work includes the closure of 10 smaller distribution and fabrication centres, the write-off of certain IT legacy equipment and over 30 branch closures in our trade businesses."

Overall, like-for-like sales grew two per cent in the third quarter for the firm.

Travis Perkins chief executive John Carter said "It is still too early to predict customer demand in 2017 with certainty and we will continue to monitor our lead indicators closely,”

The company is mid-way through a five-year overhaul, of its businesses which is seeing it shut unprofitable stores, expand in better performing areas, and refurbish its Wickes estate.

Source: Insight DIY Team

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19 October 2016

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