From my perspective as a customer Richard, it’s a difficult decision to move away from a longstanding supplier with a good and well earned reputation such as Axminster, and I respect the business reasoning outlined above, however for me personally I think a more rounded business plan should have room to support the few remaining British manufacturers of quality hand tools.
Given that it doesn't then I have already moved my personal loyalty to those retailers that do better support the home based manufacturers such as Clifton (while of course offering non-British alternatives as well for those that want them), such as Classic Hand Tools, Workshop Heaven, Turners Retreat, Toolpost, and more recently Peter Sefton's new enterprise for example. For more mainstream power tools and machinery there are also many alternative suppliers and my business will likewise follow elsewhere.
I don't expect it will register on Axminsters corporate earnings but I at least will feel more comfortable with spending my money with businesses more aligned with my way of thinking, which will make me feel happier at any rate
Incidentally, having emailed Axminsters Customer Service Manager on 28th December to ask about the change and expressing my thoughts, I have still to date not had any meaningful response or information except for a couple of "holding" responses, until I saw your posting above. The lack of meaningful response to date feels somewhat disrespectful as well as disappointing, and only reinforces my thoughts that I should go elsewhere in future.
Cheers, Paul