Reports are that Travis Perkins is preparing the ground for a sale of its Wickes subsidiary. Market commentators are suggesting that the business could attract offers of more than £400m despite the current sluggish market which has been depressed by low house sales as well as Brexit uncertainties. A number of Wickes head office staff have been let go, including we understand CEO Simon King, as operating profits have continued to fall. It is also being suggested that several MBOs have been mooted for parts of the Wickes business, but have not been pursued.
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