Over 200 jobs under threat at Leicestershire wholesaler

Image by Michael Schwarzenberger from Pixabay

Cromwell Tools is set to cut up to 250 jobs including a sizeable number at its Leicestershire base, according to a report by BusinessLive.

The Wigston-headquartered tool wholesaler was bought by the American industrial supplies company WW Grainger Inc for £310 million in 2015 – a deal which ought to have seen the nationally recognised Cromwell brand push on to the next level – but has since encountered rocky terrain.

Cromwell’s revenue and profits have taken a significant hit in recent times – the company’s turnover having dropped from around £322.6 million in 2016 to just over £247 million by the end of 2017 – forcing it to consider implementing cost-cutting measures.

The jobs under threat are reported to be in non-customer-facing roles.

Cromwell has a wide footprint in the East Midlands including branches in Beeston, Derby, Leicester, Mansfield and Nottingham.

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