27 November 2008

Kingfisher kicks Trade Depot into touch

Hard on the heels of MFI going into administration, the Kingfisher Group who own B&Q, Screwfix and Trade Depot has announced it is to close its Trade Depot outlets.

Trade Depot, which opened its first branch in 2005 and now has nine outlets, recorded a retail loss of £5 million in 2007/08.

Kingfisher’s third quarter results confirm what a torrid time the entry level end of the KBB market has had.

Retail profit was down £9 million compared to the same period last year with kitchen and bathrooms particularly weak - down 14%.

Kingfisher says it plans to use B&Q outlets to pick up the Trade Depot business, but with the smaller builder market in the doldrums, it sees unlikely that the check-out queues will be significantly longer.

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