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Wickes owner Travis Perkins says 600 jobs at risk Travis Perkins says 600 jobs at risk amid branch closures
(35 minutes later)
The UK's biggest builders merchant, Travis Perkins, whose businesses include DIY chain Wickes, is closing 30 branches, putting 600 jobs at risk. The UK's biggest builders merchant, Travis Perkins, is closing 30 branches, putting 600 jobs at risk.
The FTSE 100 firm said it was taking the steps due to an "uncertain UK outlook" for next year. 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.
The branches will be shut across its trade businesses, while it is also closing 10 smaller distribution centres and writing off IT equipment. Profits will also be lower than expected this year due to weak sales in its plumbing and heating division.
The 600 affected workers have been told of the changes, Travis Perkins said. The firm is closing branches of Travis Perkins, Benchmarx, BSS and PTS, but not its DIY store Wickes.
The group operates almost 2,000 stores in the UK, including branches of Travis Perkins, BSS, Tile Giant, as well as Wickes. Chief executive John Carter said it was "still too early to predict customer demand in 2017 with certainty".
It said profits would be lower than expected this year because of disappointing sales in its plumbing and heating division. "Given this uncertainty we will be closing over 30 branches and making further efficiency driven changes in the supply chain."
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.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 are still down 22% since the referendum. Shares in the company fell 5% in early trading on Wednesday, and are down more than 22% since the referendum.