The company announced plans to consolidate 25 branches and lay off 350 employees.

In a filing with the Securities and Exchange Commission earlier this week, HD Supply reported a loss of $267 million in the third quarter and $346 million on the year. Sales plummeted 27 percent in both the third quarter and the full year, to $5.8 billion. The company announced plans to consolidate 25 branches and lay off 350 employees. Read more here.