THE FUTURE of Evesham’s Countrywide store is uncertain after company bosses announced the ‘potential sale’ of the retail arm of the business.
The announcement was made on Wednesday (April 5) after the retailer’s financial results for 2016 were published which revealed the company made a loss after tax of £9.9million.
As a result, company bosses have appointed advisors PwC to look into a potential sale of the retail arm of Countrywide – with the future of 53 stores across the UK now uncertain, including their store on the Four Pools Retail Park.
The company in February had already made the decision to close 14 of its stores, before the full extent of the company’s financial situation was revealed.
The firm, which has its headquarters on the Vale Park, is one of the UK’s leading suppliers of farming, equestrian, pet, country clothing and gardening products.
In a statement, Countrywide said: “The Company reports a loss after tax from continuing operations for the period of £9.9m (2015: £8.2m) following disappointing trading performance and continued investment through what has been a period of considerable change and transition.
“Further to the confirmation of 14 retail store closures in February, which formed an important part of re-positioning the Retail business for profitable growth in the future, the Board continues to review the strategic direction and profitability of the Company as a whole.
“It is clear to the Board that the retail environment remains challenging and that to compete effectively for the long-term will require further rationalisation of the cost base along with potential further investment.
“Countrywide therefore announces today that it has appointed advisors PwC to explore a potential sale of the Retail business.”
