THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
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 by Sky News.

HOME & DIY

Homebase owner could close 60 shops

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

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing