The owners of Bunnings and Homebase have responded to rumours about the closure of their UK-based DIY superstores, including sites in St Albans.

Australian media reported Wesfarmers, who own the businesses, is making a loss of $1.3bn, the majority from Bunnings UK.

A spokesperson for the company, which has warehouses on Griffiths Way and Hatfield Road, said: “It’s too early to say and it’s not appropriate to speculate at this point. Our team will always be the first to know of any updates.”

Bunnings took over the Griffiths Way site opposite Sainsbury’s at the start of last year, its first warehouse store in the UK.

Charities such as The Crescent, who support people with HIV, the Sea Scouts, and schools like How Wood and Trinity Preschool on Beaconsfield Road have benefited from Bunnings’ philanthropy, including the proceeds from the store’s sausage sizzle stall on Saturdays.