Traditional values still needed
Published:  03 July, 2009

London: Wolseley's plight - climaxing in the resignation of chairman Chip Hornsby - is no surprise according to financial commentators.

Nils Pratley, Guardian newspaper economic editor said: "The truth about this once great British company is that it chose to step on the accelerator at exactly the wrong moment. An established strategy of modest, bolt-on acquisitions was abandoned in favour of a bid for global leadership in building supplies. The deals got bigger, and the debt piled up, to £2.7bn."

"In the old days managers at Wolseley always remembered that they were running an inherently cyclical business. Now, for the first time in its 100 years, Wolseley finds itself appointing an outsider, Ian Meakins, to re-establish principles that should never have been forgotten," said Mr Pratley.

Sign Up

For the Builders' Merchants News enewsletter.

In the spotlight


Builders Merchants Vacancies – UK Wide

At Arco, we are an industry specific recruitment consultancy, providing sales and managerial staff Nationwide to Merchants, Distributors and Manufacturers of Building Materials within the Construction Sales Sector. Priding ourselves on our unparalleled customer service and hard work, we offer a fresh, innovative and personal approach to recruitment specifically designed to meet our clients’ needs and candidates’ skills.

Guest Blog by Simon Damp

Is DIY a lost art?

As time goes by, the art of do-it-yourself when it comes to activities around the home and garden is fast becoming more and more of a lost art.