Builders’ merchant Travis Perkins said the slowdown in construction has had a big impact on profits as it revealed it was forced to cut 400 jobs and shut 19 branches at the end of last year.
The Northamptonshire-based group, which also owns Toolstation, said it had had to take “difficult decisions” to cut costs by £25 million this year.
It made the closures in its general merchant and Benchmarx divisions at the end of 2022, losing around 400 jobs out of its 20,000-strong workforce. The business had about 1,500 branches prior to the cuts.
