Covid and restructuring costs send Travis Perkins nosediving into red

By Dave Rogers2020-09-08T08:40:00

Source: Shutterstock

Firm shelled out more than £100m closing branches and cutting jobs in first half

The cost of shutting more than 150 branches and axing thousands of jobs helped send Travis Perkins nosediving to a near £127m pre-tax loss in the first half of this year.

In June, the builders merchant said it was beginning a restructuring programme, hastened by the impact of the government lockdown in March because of the covid-19 pandemic, that saw 165 branches shut by last month resulting in 2,500 roles being cut.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community