Bathstore pour cold water on Wolseley
Bathstore dragged on the UK performance of builders’ merchant Wolseley after the retail chain yesterday posted a 15 per cent slump in annual sales.
Wolseley, which is the world’s largest specialist distributor of plumbing and heating products, took a £29 million write-down to reflect Bathstore’s reduced value.
It said the chain faced “particularly challenging” trading conditions.