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Castorama and Brico Depot stores to shut in France

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Castorama and Brico Depot stores to shut in France
The struggling DIY chain is to shut 11 stores in France. Photo: AFP
11:11 CET+01:00
Nine Castorama and two Brico Depot stores are to close in France, parent company Kingfisher has announced. Find out if a store new you is closing.

The troubled UK DIY chain - which also owns B&Q - announced on Wednesday that its annual net profit had collapsed by more than half to  €255 million in the group's financial year that ran to the end of January.

It has now announced the closure of 15 'underperforming' stores across Europe, the majority of which are in France.

The company has not named the stores, but according to French newspaper Ouest France, six of the nine stores closing are in the Paris and Ile-de-France region.

 

(The Hellemmes Castorama store is among those to be closed. Photo: AFP)

It reports that stores to close are in Pontault (Seine-et-Marne), Eragny (Val d'Oise), Ezanville (Val d'Oise), Ballainvilliers (Essonne) and Paris' La Défense quarter.

The three outside of Ile de France are in Hellemmes, near Lille, Darnetal on the outskirts of Rouen and Angers.

The company also announced on Wednesday the departure of chief executive Veronique Laury.

The company did not give a precise reason for the exit of the Frenchwoman, who has been CEO at the London-listed company since late 2014.

"Kingfisher plc today announces that ... a decision has been made to launch the succession process for the position of group chief executive officer," it said in a brief statement.  

"This will commence immediately. Veronique Laury fully supports the decision, and both she and the board wish to ensure an orderly transition."

The owner of French chains Castorama and Brico Depot as well as Britain's  B&Q has more than 1,200 stores in 10 countries across Europe, Russia and Turkey.

 
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