THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
Future of Retail Marketing 2020
Omnichannel Transformations 2020
The HR Summit 2020
The Future Of AI in Retail Conference 2020
Omnichannel Futures Conference 2021
The Omnichannel Journey
Optimizing Workforce Management
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Homebase owner could close 60 shops

The new owner of the Homebase DIY chain is preparing to announce a plan to close around a quarter of its stores, according to a report… View Article

HOME & DIY

Homebase owner could close 60 shops

The new owner of the Homebase DIY chain is preparing to announce a plan to close around a quarter of its stores, according to a report by Sky News.

The move could impact more than 1,000 jobs.

In the report Sky News says that Hilco Capital is expected to unveil proposals for a Company Voluntary Arrangement that will include plans for the closure of around 60 of Homebase’s 249 shops. It is thought that the proposals will be launched by professional services company Alvarez & Marsal early next week.

Hilco Capital acquired Homebase from the Australian Wesfarmers group for a nominal sum in May.

After buying Homebase in 2016 for £340 million, Wesfarmers sold the business to Hilco after problems arising from poor execution post-acquisition were compounded by a deterioration in the UK retail sector.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News