Wickes owner Travis Perkins to slash jobs and close stores

The builders’ merchant, which owns a number of chains including DIY retailer Wickes and Toolstation, said it had started a consultation with staff on job losses and branch closures, which will reduce its store portfolio by 8%.

The Travis Perkins chain will be the worst affected, focusing on smaller branches where social distancing rules will be difficult to implement and lower trade will wipe out profitability.

Wicks, Toolstation, Tile Giant and the company’s other UK chains will also experience some closures.

Chief executive of Travis Perkins, Nick Roberts, said the builders’ merchants did not expect pre-coronavirus trading levels to return for at least two years.

“While 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. This is in no way a reflection on those employees impacted and we will do everything we can to support them during this process.”

Travis Perkins also said it was “evident that the UK is facing a recession” which in turn would also see a downturn in demand for building materials “during 2020 and 2021”.

Around a third of Travis Perkins branches were kept open during the lockdown, along with half of all plumbing and heating stores. It has opened more branches over the last six weeks, although sales were 60% of pre-coronavirus levels year-on-year in May.