Business
Home centre bankruptcies cleaning up crowded market
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October 2nd, 2013
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The recession and cautious acquisition strategies by the major home-centre chains have generated a wave of bankruptcies among lumberyards and other retailers selling supplies to the home construction industry.
One in ten such firms has closed in recent years, according to DT Group, which owns the chains Silvan and Stark.
The store closings have cost 350 people their jobs.
Home centres say that with an on-going decline in buisness that sees industry-wide sales currently at 2002 levels, more closures should be expected. DT Group said it had about 50 stores too many.
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