The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Wholesale Trade, Except Of Motor Vehicles And Motorcycles Other Specialised Wholesale 46.73 - Wholesale of wood, construction materials and sanitary equipment
600 jobs Number of planned job losses
Announcement Date
19 October 2016
Employment effect (start)
Foreseen end date
Description
The UK's largest builders' merchant Travis Perkins has announced plans to close 30 of its branches which will result in the loss of 600 jobs. A spokesperson for the company attributed the cuts to uncertain future demand. Following the EU referendum outcome, Travis Perkins shares fell substantially amid concerns about the impact of the vote on the construction industry; shares are down 22% since the referendum outcome. As yet there is no information available on the locations of the stores which are earmarked for closure and nor has the company given any information about the likely timescale for the closures.
Sources
19 October 2016: BBC Website
Citation
Eurofound (2016), Travis Perkins, Internal restructuring in United Kingdom, factsheet number 89029, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89029.
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