2,500 jobs to go as Travis Perkins plans 165 branch closures
The UK’s biggest builders’ merchant Travis Perkins has announced plans to close 165 branches in a move expected to see its workforce reduced by around 2,500 people.
Staff at the group, which operates the Wickes and Toolstation brands, were informed of the plans this week.
The closures will be concentrated in the merchant business, with smaller Travis Perkins branches under threat.
A statement from the company said: “Following discussions with colleagues this morning, the group has commenced a consultation process regarding the closure of around 165 branches across the overall branch estate, representing approximately 8% of the group’s network.
“In addition, the group is consulting on above-branch roles in the distribution, administrative and sales functions. In total, the group expects to reduce the number of colleagues by around 2,500 or approximately 9% of the workforce.
“Branch closures will be concentrated in the merchant businesses, in particular the Travis Perkins General Merchant, focusing on small branches where it is either difficult to implement safe distancing practices, or where marginal profitability will be eroded in a reduced volume environment.”
A company spokesman would not confirm which branches were at risk.
Chief executive Nick Roberts said: “Whilst we have experienced improving trends more recently, we do not expect a return to pre-COVID trading conditions for some time and consequently we have had to take the very difficult decision to begin consultations on the closure of selected branches and to reduce our workforce to ensure we can protect the Group as a whole.”