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Tuesday, 17 May 2011

Wickes Owner Buys Focus DIY Stores

Northampton-based, Travis Perkins, the owner of Wickes and BSS plumbing supplies,  has bought 13 of the stores operated by Focus DIY for £8.3m, it has been reported.  Wickes said it would take on all the 345 staff at the sites it was acquiring.

Travis Perkins chief executive Geoff Cooper said: 'The acquisition of these 13 stores, cherry-picked from over 100 potential locations, further expands our Wickes business and will help us to continue our gains in like-for-like and total market share.'

Earlier, Kingfisher bought 31 stores for £23m, which will be rebranded as B&Qs.

Ernst & Young said it was in "detailed discussions with a number of interested parties" over the sale of further stores.

So, it sounds like some of the 178 stores were in good locations and perhaps making money.   Should the CVA have cut deeper in order to save the company?

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