British retail giant pulls shutters down on DIY chain in Spain

EUROPE’S leading home improvement retailer is closing its 28 stores in Spain with the loss of almost 2,000 jobs.
Brico Dépôt, which is owned by Kingfisher plc, expanded into Spain in 2003.
The retail giant includes B&Q, Screwfix and Castorama in its portfolio.
Employing 1,782 staff in Spain, Brico Dépôt operates a low-cost format which offers customers a choice of 12,500 DIY and renovation products available in large quantities.
Véronique Laury, CEO of Kingfisher, said that from now on they want to concentrate on countries where market share is significant.
“We are committed to our plan to create a strong long-term business.
“The decision to leave Spain is part of this commitment.”
In the last financial year, Brico Depôt España made a profit of €2.2 million euros.
It has stores in Madrid, Valencia, Barcelona, Sevilla, A Coruña, Valladolid, Lleida, León, Tarragona, Guipúzcoa, Navarra, La Rioja, Álava, Zaragoza, Balearic Islands, Toledo, Alicante, Almería, Granada and Cádiz.
The exact closure dates have not yet been specified.