Travis Perkins says 600 jobs at risk amid branch closures – BBC News
Image copyright Reuters The UK’s biggest builders merchant, Travis Perkins, is closing 30 branches, putting 600 jobs at risk.
The company, which employs 28,000 people across its 2,060 stores, said it was taking the steps due to an “uncertain UK outlook” for next year.
Profits will also be lower than expected this year due to weak sales in its plumbing and heating division.
The firm is closing branches of Travis Perkins, Benchmarx, BSS and PTS, but not its DIY store Wickes.
Chief executive John Carter said it was “still too early to predict customer demand in 2017 with certainty”.
“Given this uncertainty we will be closing over 30 branches and making further efficiency driven changes in the supply chain.”
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The 600 affected workers have been told of the changes, while the firm is also closing 10 smaller distribution centres and writing off IT equipment.
Travis Perkins was one of the biggest fallers on the FTSE 100 following the Brexit vote on fears of a hit to the UK’s property and construction sectors.
Shares in the company fell 5% in early trading on Wednesday, and are down more than 22% since the referendum.
Read more: http://www.bbc.co.uk/news/business-37701427