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UK: Kingfisher abandons planned purchase of Mr Bricolage

By  |  March 30, 2015

Kingfisher has scrapped its long-running attempt to buy Mr Bricolage after the French DIY chain’s board and major shareholder withdrew their backing over concerns about store closures.

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    The British owner of B&Q and Screwfix is understood to be considering legal action after the unravelling of a binding agreement signed last July with Mr Bricolage’s main shareholders.

    Mr Bricolage said last Wednesday it believed a large number of stores would have to close and this would destabilise its franchise network.

     

    Full Content: The Financial Times

     

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