B&Q Cowley to close in September
Published: 28 August 2012
The DIY giant's only Oxford outlet will be closing in coming weeks as the retailer opts out of its lease renewal.
The move means 67 workers are now facing employment uncertainty, but according to local press, B&Q has said its "top priority is to safeguard jobs", pointing out that three neighbouring stores are within 30 miles of the site. A consultation is reportedly underway between bosses and employees at the outlet to find alternative job roles.
Speaking at a press briefing in March, B&Q's parent company Kingfisher chief executive Ian Cheshire warned that certain stores had been earmarked for closure.
"Leases are coming up for renewal and we would consider not renewing them," he said.
"We have identified areas we would like to stay and have re-geared and taken on new leases on those for a rent reduction. It is a long-term structural strategy, not a major change in store portfolio in the short-term."