Travis Perkins closures to largely hit smaller branches

Travis Perkins group, owner of Toolstation, Wickes, Tile Giant and Travis Perkins merchants, is to cut 2,500 jobs.

There will be branch closures - largely smaller outlets of the Travis Perkins General Merchant brand, reports the BBC and numerous other news sites.

Chief Executive Nick Roberts said: "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."

Those improving trends have seen Travis Perkins-owned Toolstation and Wickes (the latter of which is demerging from the group) posting like-for-like growth, thanks in part to strong DIY demand during the lockdown.

Travis Perkins has been reopening more merchant sites since the end of April, while Toolstation has been one of the group's star performers, due not least to an extensive opening campaign, seeing it open 100 stores in two years.