Mother or father corporate Vice chairman percent says that it’s taking ‘decisive movements’ to arrest the decline of its Brandon Rent Station industry and reposition it.
Brandon Rent Station will now most effective beef up Vice chairman’s strategic and B2B shoppers and can now not serve the patron (retail/DIY) marketplace.
Roughly 60 of the 100 or so Brandon Rent Station shops are being closed and round 400 jobs are going.
Vice chairman paid £70m to obtain Brandon Rent Workforce in 2017 and merged it with its present Rent Station instrument rent industry.
“We now have taken decisive movements to reposition the department, which can lead to a smaller, extra focussed and successful Brandon Rent Station,” the corporate stated. “Those adjustments will growth the crowd’s technique by way of lowering publicity to the difficult Basic building marketplace along supporting Vice chairman’s main shoppers, advanced initiatives and specialist divisions.”
It added: “This new buyer center of attention lets in us to scale back Brandon Rent Station’s asset vary and be aware of upper go back, extra specialized belongings essential to beef up our buyer profile.”
The restructuring will incur an outstanding price of £22m within the present monetary yr with a money price of £16m.
The transfer used to be introduced in Vice chairman’s intervening time monetary commentary that displays a 44% fall in pre-tax benefit within the first part. Within the six months to 30th September 2025, Vice chairman made a pre-tax benefit of £11.0m (2024 H1: £19.5m) on income down 2% at £188.4m (2024 H1: £192.5m).
Leader govt Anna Bielby stated: “Vice chairman’s varied and resilient companies have delivered a excellent consequence in opposition to a difficult and unsure marketplace backdrop. Our persisted funding in horny markets akin to Eire and Germany – enabled via our powerful stability sheet – continues to yield robust returns, with enhancements in our working style bringing extra alternatives to the crowd.
“The decisive movements to reposition Brandon Rent Station additional progresses the crowd’s technique, making sure higher center of attention on upper returns, specialist belongings and markets.
“While we think marketplace stipulations to stay tough in the second one part of the yr, efficiency is these days anticipated to be in keeping with marketplace expectancies.”
Vice chairman’s different companies come with Groundforce, TPA, Torrent Trackside, ESS, MEP Rent, CPH, UK Forks, Airpac Leases and Tech Leases.
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