‘Worse than Masters’ – Wesfarmers’ British Bunnings nightmare deepens

Retail giant Wesfarmers’ credibility has been damaged in the wake of the home improvement disaster unfolding in Great Britain and Ireland, which some analysts are now describing as even worse than Woolworths’ Masters debacle.
Wesfarmers on Monday wrote off $1 billion the value of its Bunnings UK and Ireland (BUKI) business due to worse than expected trading at the Homebase chain it bought for $705 million in 2016 and at the 19 Bunnings format stores it has opened. Sydney Morning Herald – Read more…