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Bunnings Is Struggling Badly In The UK

May have to pull out

Bunnings Is Struggling Badly In The UK

The only Aussie mob having a worse time overseas than the cricket side at the moment is Bunnings.

The Aussie DIY giants ventured into the UK, buying out retail chain Homebase and revamping the entire set up.

It hasn’t gone to plan though, and Bunnings has had to write off around $1b dollars in losses according to The Guardian.

“Homebase is undoubtedly the most disastrous retail acquisition in the UK ever,” GlobalData’s retail analyst, Patrick O’Brien told The Guardian.

“I can’t think of a worse one that has made these kinds of losses so quickly.”

The takeover has been so bad that Bunnings’ parent company Wesfarmers is considering pulling out of the UK.

Wesfarmers managing director Rob Scott admitted that the management team made big mistakes, including sacking the entire Homebase senior management.

“A lot of the issues we are dealing with today, to be frank, were self-induced,” Scott said last month.

He said that pulling out of the UK wasn’t something they wanted to do.

“It’s not our preferred option,” he said.

“But as I’ve said earlier, all options are open.”