Kingfisher PLC
06 September 2005
Tuesday 6th September 2005
B&Q reorganises head office and regional structure
Kingfisher plc, the world's third largest home improvement retailer, today
announces that its UK subsidiary, B&Q, has reorganised its head office and
regional structure. The move, which will result in the loss of around 400 jobs
at a cost of £12 million, is the first element of a reshaping of the business
under the new management team at B&Q.
Ian Cheshire, who joined B&Q as Chief Executive in June this year, said:
'B&Q is one of the country's best known brands and is nearly twice the size of
its nearest competitor. However, we are in a tough retail environment and we
need to play to our strengths to improve customer service and grow sales. As
part of this we need to streamline the business to focus on supporting stores
and serving customers. The restructuring is about making our plan for the
future work, as well as being driven by the need to cut costs.'
Kingfisher plc will announce its interim results for the six months to 30th July
2005 on 15th September, including further details of management plans to reshape
B&Q in the UK.
Enquiries:
Ian Harding, Group Communications Director 020 7644 1029
Nigel Cope, Head of Communications 020 7644 1030
Heather Ward, Head of Investor Relations 020 7644 1032
Notes to editors:
Kingfisher plc is Europe's leading home improvement retail group and the third
largest in the world, with nearly 630 stores in 10 countries in Europe and Asia.
Its main retail brands are B&Q, Castorama, Brico Depot and Screwfix Direct.
Kingfisher also has a 21% interest in, and strategic alliance with, Hornbach,
Germany's leading DIY Warehouse retailer, with 117 stores across Europe.
B&Q is the UK's leading home improvement retailer with 335 stores. It employs
around 39,000 people in the UK. The 400 jobs lost will result in 300
redundancies and 100 current job vacancies not being filled.
This information is provided by RNS
The company news service from the London Stock Exchange
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