Homebase is shutting 42 B&M stores, putting up to 1,500 jobs at risk. The DIY chain, which was bought for £1 in May by restructuring firm Hilco, said the outlets will be closed over the next 16 months. Besides a number of "self-induced" mistakes by Homebase's previous owner, Wesfarmers, it has also come "under attack from all sides", with customers finding "good alternatives in B&M, supermarkets' own home sections, Wilko and others", said Catherine Shuttleworth of retail consultancy Savvy, adding this will "go down in retail history as an example of needing to know the market".
Homebase is shutting 42 UK stores, putting up to 1,500 jobs at risk. The DIY chain, which was bought for £1 in May by restructuring firm Hilco, said the outlets will be closed over the next 16 months. Besides a number of "self-induced" mistakes by Homebase's previous owner, Wesfarmers, it has also come "under attack from all sides", with customers finding "good alternatives in B&M, supermarkets' own home sections, Wilko and others", said Catherine Shuttleworth of retail consultancy Savvy, adding this will "go down in retail history as an example of needing to know the market".