Greenock Homebase To Close by Year-End

Local press has reported that Greenock's Homebase store will close by the end of the year.

The store, which is located on West Street in Greenock, is one of the 42 planned closures, as revealed by Homebase in August. 

The Greenock branch is understood to have been trading as a clearance store since January.  A closing-down sale has now begun, including all stock and shop fittings.

Triple Jersey Limited, a private equity company, owns the property and has appointed Savills to find new tenants. A property management company working on behalf of Triple Jersey said: "Whilst it is sad news that Homebase are closing, we believe the property will be a good opportunity for another occupier.

"Accordingly, we have instructed agents in Scotland to market the premises in order to find a new tenant."

At the end of August, over 95% of Homebase creditors voted in favour of a proposed Company Voluntary Agreement, in a bid to save the company. The former owner, Australia's Wesfarmers, said that the investment in Homebase had been disappointing, and sold the business to investment company Hilco in June of this year. 

A source told local press: "Under the terms of the CVA proposal, the store needs to have been vacated by 31 December, 2018.

"The closing date has not been confirmed."

Source : Insight DIY Team

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