Speculation is rising that plumbers and builders merchant chain Wolseley is gearing up to sell the Bathstore retail business.
Yesterday’s Sunday Express reports that the company is in the process of appointing advisers to work on the disposal of the 160-store chain.
Wolseley does not comment on speculation such as this, however, the retail business doesn’t really fit with the rest of the merchant’s trade-focussed portfolio.
Mark Kleinmann writing in the FT reports that a price tag of £150m has been suggested, which may prove rather too steep for some interested parties. In September Wolseley sold its tools and equipment hire arm Brandon Hire.
Earlier this year chief executive Ian Meakins highlighted that around 19 of the group’s businesses could be sold off if they don’t improve their performances.