Up to 100 jobs could be lost at HRG Head Office

Following the earlier news that the Sainsbury's bid for Home Retail Group has been accepted by their board, it is understood that around 100 jobs could be at risk at their Milton Keynes Head Office.

A spokesman for Home Retail Group said: "We can confirm that following the sale of Homebase there is some alignment of Group functions to the smaller remaining Group. Subject to a period of consultation up to 100 jobs could be at risk. We have no further comment at this stage due to the consultation period."

In January this year Wesfarmers bought all of the 265 Homebase stores which will be rebranded Bunnings over the next five years, as part of a huge £242million investment plan. It is unclear as yet, where Bunnings will decide to locate their Head Office.

The chairman of Sainsbury's David Tyler said: "The combined business will offer a multi-product, multi-channel proposition, with fast delivery networks, which we believe will be very attractive to customers and which will create value to both sets of shareholders."

Home Retail Group chairman John Coombe added: "Argos is both an icon of the British high street and also a leader in the digital transformation of UK retailing. We are pleased that Sainsbury's has recognised our progress and our potential with its recommended acquisition of Home Retail Group."

Read more here - Home Retail Group board backs Sainsbury's deal.

Source: Insight DIY Team