Posted March 31, 2020

Pandemic delays HD Supply plans to separate businesses

Plan to separate Facilities Maintenance and Construction & Industrial businesses goes on hold.

HD Supply Holdings announced that changing market conditions caused by the COVID-19 pandemic have impacted the company’s previously announced timeline to separate its Facilities Maintenance and Construction & Industrial businesses.

HD Supply remains committed to the separation of its two businesses and reaffirms that the strategic rationale for the separation is unchanged. The company continues its preparation to ensure that the two companies are ready for the separation when the markets sufficiently recover.

“As our industry reacts to COVID-19 and the large-scale effort to contain it, we remain focused on navigating the crisis, keeping our associates healthy, serving our customers, and protecting the financial stability of our company during these unprecedented times,” said Joe DeAngelo, chairman, president and chief executive officer.

The company also said that DeAngelo has voluntarily waived his base salary for the reminder of the year.