Homebase to close 42 stores

Homebase has today confirmed to staff that 42 stores are to close putting 1,500 jobs at risk.

In the last 12 months, 17 branches have been shuttered and, combined with the latest announcement, brings the total to 59 - near to the 60 that has been suggested in recent weeks.

The affected stores are as follows and there's a map showing the closing stores here:-

Aberdeen Bridge of Don
Aberdeen Portlethen
Aylesbury
Bedford St Johns
Bradford
Brentford
Bristol
Canterbury
Cardiff Newport Road
Croydon Purley Way
Droitwich
Dublin Fonthill
Dublin Naas Road
Dundee
East Kilbride
Exeter
Gateshead
Grantham
Greenock
Hawick
Inverness
Ipswich
Limerick
London Merton
London New Southgate
London Wimbledon
Macclesfield
Oxford Botley Road
Peterborough
Pollokshaws
Poole Tower Park
Robroyston
Salisbury
Seven Kings
Solihull
Southampton Hedge End
Southend
Stirling
Swindon Drakes Way
Swindon Orbital
Warrington
Whitby

We will bring you more details on the closures during the day.

Hilco, who purchased the chain in May from the Australian conglomerate Wesfarmers, for the nominal sum of £1, is expected to launch a Company Voluntary Arrangement (CVA), through the professional services firm Alvarez & Marsal, which will enable the business to close as many as 60 of the poorest performing Homebase stores. 

As yet, there has been no word on the expected CVA.

Hannah Maundrell, Editor in Chief of money.co.uk comments: 

“It’s undoubtedly distressing news for employees of Homebase and their families, especially those who are yet to find out their fate. Homebase staff have been left in limbo after many jobs have already been cut this year. Those who fear they could lose their jobs should hope for the best but prepare for the worst. Now is the time to check what redundancy rights you have and dig out any income or mortgage protection policies you hold just in case. 

“Sadly this isn’t the beginning of redundancies in the retail sector this year and I doubt it will be the end. Shoppers habits are changing, purse strings are tightening and our reluctance to pay full price becomes more problematic for stores.”

Recent Homebase news:

Homebase owner to close up to 60 stores in CVA - August 2018

Homebase owner expected to close around 60 stores under a CVA - August 2018

Homebase horticulture staff leave the business - August 2018

All change as Bunnings Brand Starts to Disappear from the UK - July 2018

300 jobs go at Homebase head office - June 2018

Seven Homebase stores to close - June 2018

Wesfarmers completes sale of Homebase three weeks early - June 2018

Source : Insight DIY

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