Skip navigation

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 

Subscribe to Punchline

Related Articles

Business leaders attack Brexit vote delay Image

Business leaders attack Brexit vote delay

The Prime Minister's last-minute decision to delay the House of Commons vote on the Brexit agreement has come under fire from the region's business leaders.

Almost 200 jobs at risk as Gloucestershire factory faces closure Image

Almost 200 jobs at risk as Gloucestershire factory faces closure

A global engineering firm is proposing to close its Gloucestershire manufacturing centre with the loss of 185 jobs.

Police sell £18,500 of designer trainers which belonged to criminal Image

Police sell £18,500 of designer trainers which belonged to criminal

Police are to sell £18,500 worth of designer trainers which belonged to a convicted criminal so the proceedings can go towards fighting crime.

Business expert: Detailed preparation for sale Image

Business expert: Detailed preparation for sale

Even if your business is in good shape, are you emotionally prepared for the sale of the business?

Copyright 2018 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.