Toolstation plans to withdraw from France

The British building materials trading group Travis Perkins may be withdrawing its Toolstation sales division from France. This has emerged from the latest annual report, which states that the company is working on a "plan for a potential withdrawal of Toolstation France". The options for the markets in the Benelux region are being strategically reviewed.

Toolstation had expanded its French branch network by six to 51 branches in 2023. As a result, turnover grew by 29 per cent. However, the losses have risen to GBP 18 mio (EUR 21 mio) and a loss of GBP 20 mio is expected for 2024, the annual report states.

The 119 outlets in the Benelux region (plus six) increased their turnover by 10 per cent in 2023, which was below management expectations. According to the annual report, the losses have risen from GBP 15 mio to GBP 19 mio, but are only expected to amount to GBP 12 mio in the current year. Profitability is expected to be achieved in 2025 in the Netherlands and 2028 in Belgium.