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Gloucestershire Business News

DIY giant to close 60 stores

Staff in Gloucestershire working for one of the country's best-known DIY stores will be waiting to see if they are among the 1,500 expected to lose their jobs.

New owners of Homebase, Hilco, is expected to outline a rescue plan for the troubled business which involves closing 60 stores.

Homebase currently has operations in Gloucester, Cheltenham and Stroud.

Hilco bought the household name from Wesfarmers which invested in the UK-wide chain in 2016 in what is widely regarded as a disastrous move by the Australian business.

According to reports Hilco will look to use what is called a Company Voluntary Arrangement (CVA) to carry out the restructuring.

Read more: 2,000 jobs at risk at Homebase 

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