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Travis Perkins ramps up Wickes exit

Builders merchant chain Travis Perkins is moving forward with plans to offload its Wickes retail division.

Simon King has been replaced as chief executive of the division by former Tesco executive David Wood and the group is said to be in the process of separating Wickes’ IT systems from the rest, according to the Sunday Times

In December, the group said it was  reviewing options to maximise the value of Wickes and the plumbing and heating division has been on the market since then.

Wickes’ sales have shown 10.5% growth in the first quarter of 2019, having fallen by 4.45 year on year last year.

 

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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