Posted Thursday

Distributor BCG at risk of shutting down

By KBBDaily on 7th December 2017 - 10:52am

Wolseley UK has informed staff at its heating, bathroom and kitchen distributor brand BCG that it has begun proceedings to look at closing down the business, as part of a wider restructuring plan that the group announced last year.

The closure of the business is subject to consultation, with the company currently speaking to employees and no firm decision yet in place. However, the company is not believed to be seeking an investor for the brand.

In December last year, Wolseley noted that the UK heating market was weak, and attributed its decline in turnover at the time – with UK like-for-like revenue dropping by 2.9% in the first quarter of the 2017 financial year – in part to weak repairs, maintenance and improvement markets.

Prior to that in September, the company had announced that it was launching a “turnaround and repositioning strategy”, which could result in up to 800 jobs being cut.

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Distributor BCG at risk of shutting down