Coronavirus: Travis Perkins pauses Wickes demerger due to ‘extreme volatility’

Wickes Crawley store front

Travis Perkins has put its planned demerger of home and DIY business Wickes on hold in light of “extreme stock market volatility”.

The builders merchant announced to the stock market today that it would be shelving the planned demerger of Wickes and suspended paying a full-year dividend to shareholders due to the “rapidly evolving situation” with the virus.

It said “good progress” had been made on the demerger in recent months but said ongoing market volatility meant the process would be paused so the Travis Perkins board can “focus on managing the group through the current challenges”.

Travis Perkins said it was “impossible to know exactly when it will be appropriate” to restart the process but said its intent to decouple Wickes as a separate, listed business “remains unchanged”.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.