Staff are sweating on their jobs as axe hangs over Derry store
STAFF at a B&Q store in Derry are sweating on their jobs this morning over fears management may close it.
B & Q are set to close up to stores across the UK and Ireland over the next two years.
The move is part of a cost cutting drive by its newly appointed French chief executive.
Annual profits are down 7.5 per cent and sales are well down on last year as people spend less money on DIY.
It is understood the store at Buncrana Road and one at Boucher Road in Belfast have the axe hanging over them.
Staff could know by the end of this week or early next week if they will lose their jobs.
As well as the closures, some stores could also be reduced in size and the retailer could look to sub-let space to other businesses.
Owner Kingfishers said the closures would take place over the next two years as part of a restructuring of its UK and Ireland business.
Chief executive Veronique Laury, said the closure plan was one of a number of “sharp” decisions being taken by the company.
She added: “Home improvement is a great market with huge potential and Kingfisher has a strong position within it with further scope to grow in a sustainable way.
“However, it is clear to me that we need to organise ourselves very differently to unlock our potential.”
