Bunnings has drafted in consultants to advise its senior leadership team in the UK as the Australian DIY giant attempts to revive its British business.
The retailer has called in specialist consultancy Boston Consulting Group (BCG) to advise Bunnings UK and Ireland boss Damian McLoughlin and his management team.
Bunnings’ future in the UK was thrown into doubt after owner Wesfarmers revealed it had suffered £584m in writedowns from the acquisition of the former Homebase business.
It said half-year losses would widen from £28m to £97m as a result.
Rob Scott, Wesfarmers’ managing director, warned that up to 40 stores could close – putting 2,000 jobs at risk.
Boston Consulting Group’s appointment, first reported by the Press Association, comes as Wesfarmers conducts a strategic review of its ailing UK business.
Bunnings entered the UK in 2016 with the aim of taking on market leader B&Q.
But it immediately stripped out the entire Homebase senior management team and parachuted in its own Australian chiefs to run its British chain.
However, Scott admitted it had botched the conversion of Homebase stores into Bunnings, with popular lines axed at the remaining Homebase stores.
As previously reported, Wesfarmers is also thought to be scouting for potential buyers of Bunnings UK and Ireland and has drafted in Lazard to advise.