Builders merchant Travis Perkins could offload its Wickes DIY chain as part of plans to focus on trade customers in an overhaul of the company which also includes a sale of its plumbing and heating division.
In a stock market announcement ahead of an analyst meeting Travis Perkins said that it is executing a “significant cost reduction programme” at Wickes while also “looking to review the options for maximising the value of Wickes in the medium term.” It is understood one of these options is a sale.
Wickes has suffered from falling sales as it has faced intense competition from rival B&Q and a steady decline in the wider DIY market which has dragged the profits for its consumer division lower.
