Wickes

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Wickes
Subsidiary
Industry Retail
Founded 1972
Headquarters Watford, England, United Kingdom
Area served
United Kingdom
Key people
Simon King, Managing Director
Products
£70m (approx)
Parent Travis Perkins
Website www.wickes.co.uk

Wickes is a British home improvement retailer and garden centre, based in the United Kingdom and owned by Travis Perkins, with more than 230 stores[1] throughout the country. Its main business is the sale of supplies and materials, for homeowners and the building trade.

The company also trades in the kitchen and bathroom market, in which it has extensive ranges from budget take away kitchens and bathrooms, to more bespoke professionally designed kitchens and bathrooms. This company should not be confused with Wickes Furniture, a former United States based furniture store chain, although both companies used a similar red and blue "W" logo.

History[edit]

Wickes store sign

Wickes was founded by Henry Dunn Wickes, in Michigan, United States in 1854, and in 1972, Wickes Corporation, along with British builders merchant, Sankeys, opened its first store in the United Kingdom. By 1987, Wickes was trading from 41 locations, and was floated on the London Stock Exchange.

In August 1996, serious accounting irregularities were uncovered. In November 1996, Bill Grimsey was appointed CEO, to oversee its recovery from the scandal, that saw its share price suspended and the banks foreclosing.[2] Grimsey launched a rights issue,[3] started an employee share scheme, and turned around the company to the point where it was bought by Focus-Do-It-All, backed by Duke Street Capital, in September 2000.[4][5]

Wickes grew from 131 stores in October 2000 to 172 in March 2004, including the rebranding of 36 stores of Focus DIY. In December 2004, Focus Group sold Wickes to Travis Perkins.[6] The sale was completed in February 2005. In October 2007, Wickes acquired seven stores from Focus DIY, after Cerberus Capital took it over in June 2007 for £1,[7] these stores were in Glossop, Mansfield, Penrith, Bulwell, Plumstead, Dumfries, and Hereford.

Wickes store in Hull

In May 2011, it was announced that Wickes had purchased thirteen stores from the appointed administrators of Focus DIY, Ernst & Young, saving 345 jobs.[8] By 2016, the company now owns over 222 stores, all throughout the United Kingdom.[citation needed]

Regional Operations[edit]

South Africa[edit]

In 1994, Wickes embarked on a joint venture in South Africa, with Federated Blaikie, which saw six Wickes branded stores open in Johannesburg and Pretoria.[citation needed] Following the financial troubles the parent company encountered, the venture ended in February 1997.[citation needed] Shortly afterwards, the Wickes name was removed from all stores in South Africa.[citation needed]

Mainland Europe[edit]

The Wickes brand had ventured into some Northern European nations such as (Belgium, France and the Netherlands).[citation needed] However, in 1996, after financial irregularities were uncovered, Wickes management believed that the only way to survive the troubles was to concentrate solely on their United Kingdom operations.[citation needed] In June 1997, all mainland European operations were sold to the French DIY chain Bricorama.[citation needed]

Ireland[edit]

In April 2009, Wickes started an expansion into Ireland, opening its first franchised Irish store in Limerick.[9] In February 2013, this franchise relationship ended, with the store closed down.[citation needed]

Product range changes[edit]

In June 2009, Wickes completely pulled out of the fitted bedroom market, and dedicated extra store space to an expanded kitchen and bathroom range instead. In 2012, they started extending their range, offering beyond own brand products, by stocking a selection of trade brands including: Makita, Bosch, Rawl, Speedfit, Stanley and Velux.

References[edit]

  1. ^ "Wickes stores". Wickes.co.uk. Retrieved 27 April 2009. 
  2. ^ Tooher, Patrick (29 November 1996). "Wickes names Grimsey as new chief executive". London: Independent.co.uk. Retrieved 16 April 2009. 
  3. ^ Cope, Nigel (7 January 1997). "Wickes to resume trading today". Independent. Retrieved 25 May 2011. 
  4. ^ "Do It All at Wickes". BBC. 1 September 2000. Retrieved 16 April 2009. 
  5. ^ Travis nails Wickes for £950m | Business | The Guardian
  6. ^ Wickes – Corporate
  7. ^ "guardian.co.uk – "Focus DIY sold for £1"". London: guardian.co.uk. 18 June 2007. Retrieved 12 March 2008. 
  8. ^ "Wickes buys 13 stores from Focus". BBC. 16 May 2011. Retrieved 16 May 2011. 
  9. ^ "Wickes Ireland". Wickes.ie. Retrieved 17 April 2009. Wickes in Ireland is operated as an independent franchised business owned and operated by Moritz Home Improvement Centre Limited under licence from Wickes Limited. Moritz Home Improvement Centre Limited, Ballymount Retail Park, Ballymount Cross, Walkinstown, Dublin 24, Ireland.