Parent company Vp plc says that it is taking 鈥榙ecisive actions鈥� to arrest the decline of its Brandon Hire Station business and reposition it.
Brandon Hire Station will now only support Vp鈥檚 strategic and B2B customers and will no longer serve the consumer (retail/DIY) market.
Approximately 60 of the 100 or so Brandon Hire Station stores are being closed and around 400 jobs are going.
Vp paid 拢70m to acquire Brandon Hire Group in 2017 and merged it with its existing Hire Station tool hire business.
鈥淲e have taken decisive actions to reposition the division, which will result in a smaller, more focussed and profitable Brandon Hire Station,鈥� the company said. 鈥淭hese changes will progress the group鈥檚 strategy by reducing exposure to the challenging General construction market alongside supporting Vp鈥檚 major customers, complex projects and specialist divisions.鈥�
It added: 鈥淭his new customer focus allows us to reduce Brandon Hire Station鈥檚 asset range and concentrate on higher return, more specialised assets necessary to support our customer profile.鈥�
The restructuring will incur an exceptional charge of 拢22m in the current financial year with a cash cost of 拢16m.
The move was announced in Vp鈥檚 interim financial statement that shows a 44% fall in pre-tax profit in the first half. In the six months to 30th September 2025, Vp made a pre-tax profit of 拢11.0m (2024 H1: 拢19.5m) on revenue down 2% at 拢188.4m (2024 H1: 拢192.5m).
Chief executive Anna Bielby said: 鈥淰p鈥檚 diversified and resilient businesses have delivered a good result against a challenging and uncertain market backdrop. Our continued investment in attractive markets such as Ireland and Germany 鈥� enabled through our robust balance sheet 鈥� continues to yield strong returns, with improvements in our operating model bringing more opportunities to the group.
鈥淭he decisive actions to reposition Brandon Hire Station further progresses the group鈥檚 strategy, ensuring greater focus on higher returns, specialist assets and markets.
鈥淲hilst we expect market conditions to remain difficult in the second half of the year, performance is currently expected to be in line with market expectations.鈥�
Vp鈥檚 other businesses include Groundforce, TPA, Torrent Trackside, ESS, MEP Hire, CPH, UK Forks, Airpac Rentals and Tech Rentals.
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