Builders' merchant Travis Perkins has axed 400 jobs and closed 19 branches as part of plans to slash £25million in costs.
The group, which owns the Toolstation chain, said it was forced to make "difficult decisions" due to soaring inflation and an expected cooldown in housing and construction.
In its financial results, released today, Travis Perkins revealed it had closed 19 branches in its general merchant and Benchmarx divisions at the end of last year.
