B & Q job losses: More than 70 jobs are to go at B&Q head office as the credit crunch bites.
The B&Q job losses are mainly in administration roles, at B&Q’s headquarters.
B&Q stores are running under budget on a weekly basis, although the mark up on the cheap imported goods from China that B&Q stores sell is over 40% even so still not enough to safeguard Jobs..
With less money to spend in the economy and stiff competition from Wickes – home improvement products for the trade and DIY. B&Q have seen their market share decline steadily…
Plus away from the UK DIY market, B&Q IN China its a total disaster:
As the Chinese housing market has fallen off a cliff, so have B&Q’s fortunes. The scale of the problems facing the group’s chief executive Ian Cheshire, who used to run the Chinese business, is substantial. Cheshire himself has said the business is in a “horrible” state.
Last year sales from the Chinese stores were down 30% and they racked up a £17m quarterly loss. The business is losing money and will cost £33m to put right.
More B&Q news as we get it
Filed under: b&q | Tagged: b and q, b and q forum, b and q job losses
