Homebase is closing 13 stores across the UK this January, following financial struggles and a recent administration announcement.
London: Homebase is closing 13 stores in the UK this month. They’ve been struggling financially and had to call in administrators last November.
The company blamed weak consumer confidence and the cost of living crisis for their losses. It’s been a tough few years for DIY stores.
Wells Fargo, a big bank, didn’t extend their lending, which raised concerns about Homebase’s finances. The CEO, Damian McGloughlin, said it’s been incredibly challenging.
They tried restructuring and seeking new investments, but nothing worked. So, they had to appoint administrators.
Luckily, they struck a deal with CDS, which owns The Range, to save around 1,600 jobs by keeping up to 70 stores open.
B&Q also took over five branches, which will be converted into their stores soon. But 49 Homebase stores are still uncertain.
Now, they’ve confirmed that 13 stores will close for good in January. The exact dates aren’t out yet, but here’s the list of locations:
- Bradford
- Broadstairs
- Cheltenham
- Colchester Stanway
- Coventry
- Derby Chaddesden
- Gloucester
- Hull Hessle
- London Streatham Vale
- Oban
- Oldbury
- Romford
- Wolverhampton
Closing down sales are happening at several stores. Homebase workers are getting support as negotiations continue.
CDS plans to turn nine Homebase sites into The Range stores and open at least 50 new shops soon.
Alex Simpkin, the CEO of CDS, mentioned how sad it is to see Homebase go. It’s been a beloved brand for over 45 years, helping people with their DIY and gardening needs.
