DIY retailer Travis Perkins has announced that it plans to close over 30 stores which could affect 600 employees.
The announcement came about as the company, who own Wickes and Toolstation and employ 28,000 employees, reported its plans as it cautioned over its full-year results, saying underlying earnings were “slightly” lower than expected amid “uncertain” trading.
As well as branches, the company also plans to close 10 smaller distribution centres and review its plumbing and heating division, however it would take steps to relocate some of its staff to other sites.
Branches that are due to close across its trade brands include Travis Perkins, Benchmarx, BSS and PTS, due to a “disappointing” performance in the third quarter.
The company commented: "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."
Chief executive at Travis Perkins, John Carter, added: "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, which is seeing it shut unprofitable stores, expand in better performing areas, and refurbish its Wickes stores.
