Grafton Group has closed its Woodie’s DIY business in the Republic and scaled down the operations of its distribution business as a result of the Government’s restrictions to slow the spread of Covid-19, while housebuilders have shut construction sites.
Grafton, which also controls builders merchanting company Chadwicks, said its distribution business would supply materials on a delivery-only basis to essential health projects, critical road and utility infrastructure and emergency supplies in line with the new public-health guidelines.
“Our primary concern at this time is the health and well-being of our colleagues, customers, business partners and the communities where we operate,” the company said.
Separately, housebuilders Glenveagh Properties and Cairn Homes said all of their construction sites had closed. Glenveagh said that its sites would reopen “when the Government confirms it is appropriate to do so”.
The company added that it had a robust balance sheet with net debt of about €4 million and cash resources and available committed facilities of €121 million. It also had assets worth about €867 million at the end of December last year.
Cairn Homes said its sites would remain closed until April 12th. “The company has acted immediately to implement the necessary health and safety measures required when closing a site for an extended period to ensure sites are secured and remain safe for residents living in completed phases or those in the neighbouring area,” Cairn said.
Cairn has net debt of €91.2 million and available cash of €56.8 million. In recent weeks it has drawn down the available €194 million of its €200 million revolving credit facility.