Homebase to shut 42 stores and shed 1,500 jobs

Homebase UK DIY retailer is to shed 42 unprofitable stores, 39 in UK and three in the Republic of Ireland, and up to 1, 500 jobs.

Damian McGloughlin. The former Kingfisher manager who was appointed CEO of Homebase by its previous owners said the decision had not been taken lightly. “Homebase has been one of the most recognisable retail brands for almost 40 years, but we need to address the underperformance of the business and deal with the burden of our cost base, as well as to protect thousands of jobs.”

UK non-food retail sales fell 1 per cent in July compared with a year earlier. Homebase’s decision to launch CVA similar to New Look, Carpetright, Mothercare and casual dining chains such as Prezzo and Jamie’s Italian.