Bunnings UK business considers next move
According to Inside Retail, Wesfarmers’ MD commented that all options are on the table for Bunnings UK business. This follows a $1.3 billion write down related to Bunnings UK/Ireland and Target. At the time when Bunnings announced their entry into the UK market, it sounded to us like a pretty serious gamble: a concept originally based on Home Depot, refined to work well in Australia, to be implemented in the UK by converting an existing business that operated according to a different formula? It clearly violated the principles shared by Justin Cohen how NOT to enter a foreign market.