Up To 60 B&Q Stores To Close

Up to 60 B&Q stores are to close in the UK and Ireland over the next two years.

The news was confirmed by the owner of the DIY chain, Kingfisher, on Tuesday.

However, it added that it plans to open 60 new outlets under its Screwfix brand.

In a statement, the firm said: "Kingfisher has said for some time that B&Q UK and Ireland can adequately meet local customer needs from fewer stores and that some of the store should be smaller."

Final details of the store closures have not been released, but it has been confirmed that stores in Southampton, Dundee, Baums Lane in Mansfield and Station Road in Stechford, Birmingham, as well as Hyde in Greater Manchester and Barnsley are to close.

It is understood the closures will result in a one-off cost of £350m.

The closures follow an announcement by Kingfisher that it suffered a 15.2% fall in pre-tax profit for 2014. Its Chief Executive for B&Q UK and Ireland, Kevin O'Byrne, is also to leave the company on 15 May.


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