Weather Morning: 13°c Light showers Afternoon: 14°c Light showers

Business

HEADLINES:

Cash-and-carry giant to shed almost 400 jobs


11.02.09

Giant cash-and-carry retailer Makro is planning to axe 378 jobs with the closure of three UK superstores, the company said today.

Stores in Coventry, Wolverhampton and Swansea have all been earmarked for potential closure by the company.

The retailer is already in consultation with workers at all three stores regarding the plans.

"The store closure proposal, which is now subject to consultation with employees and representatives, will affect the 378 staff employed at these stores," a spokeswoman for the company said.

She added that the closures were due to "difficult trading times and a need to reduce costs".

In Swansea, south Wales, the closure, if carried out, will affect 112 workers and the store will cease trading on May 31, the company said.

That store, sited on the southern fringe of Swansea Enterprise Park, was opened in October 1994.

The Coventry store was opened in October 2001 while the Wolverhampton facility was only opened in December 2003.

Makro Self Service Wholesalers began trading in the UK in 1971 in Manchester. The company's annual UK turnover is now more than £1 billion.

Makro UK, which is part of Metro Cash and Carry, currently operates a network of 33 cash-and-carry superstores across the country.

Market Roundup
FRIDAY UPDATE

Morgan Stanley casts cloud over Thomas Cook and Tui

Shares of the UK’s two biggest package holiday operators were among the heaviest blue-chip fallers today after one broker decided that their outlook was far from sunny

More



City Spy, cityspy@standard.co.uk

To be Frank, he’s a heroin of our time

“It's been a while since Frank Timis graced City Spy so a big shout out to the former boss of Regal Petroleum who told the market he'd found a whole load of oil in Greece only for it to turn out he hadn't

More

CitiDirect.co.uk - Directory Enquiry Service for UK Businesses

CitiDirect.co.uk - Directory Enquiry Service for UK Businesses
Service Area or postcode