B&Q stores closing across the UK

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The fate of the Milton Keynes branches of B&Q remains in the balance, after the firm announced more details of store closures.

Up to 60 of the home improvement stores are to close over the next two years as part of a restructuring of the business.

Shops in Southampton, Dundee, Mansfield, Birmingham, Hyde and Barnsley are all confirmed to be closing. It is not known what will happen to the stores in Patriot Drive, Rooksley or Watling Street, Bletchley.

Chief executive Veronique Laury, who took over from Sir Ian Cheshire in December, said the closure plan was one of a number of “sharp” decisions being taken by the FTSE 100 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.”

Parent company Kingfisher, which also owns Screwfix, runs 360 B&Q stores in the UK and Ireland. Earlier this year the firm announced a 7.5 per cent drop in its annual profits, which fell to just £675million.