Kingfisher hires new UK boss for B&Q

Kingfisher, Europe’s largest home improvement retailer, yesterday said it has hired Michael Loeve to head up the UK & Ireland division of its struggling DIY chain B&Q. Loeve will join in September from Danish supermarket giant Coop Danmark. The hire gives hopes of a turnaround for B&Q, after Kingfisher said that it would close 60 stores in two years.