Skip navigation

Gloucestershire Business News

Jobs threat as a DIY chain is sold

A major DIY chain has been sold for just £1 putting a question mark over jobs at stores in Gloucestershire.

Household name Homebase has been sold for the nominal fee to Hilco.

Australian owners Wesfarmers, who bought the chain of hardware stores two years ago is expected to make a loss of £230 million.

Hilco is the restructuring specialist which rescued music chain HMV in 2013.

There is no news as yet on what this may mean for the future of the chain's 251 stores which employ 11,500 staff.

Homebase has stores in Gloucestershire off Eastbrook Rd, Gloucester, Kingsditch Lane, Cheltenham and Cainscross Rd, Stroud.

Wesfarmers was part way through a re-branding of the chain, renaming 24 stores under the Bunnings name.

It paid £340 million for the business in 2016 but in February announced profits for the second half of 2017 has fallen by nearly 90 per cent. Shortly afterwards it announced 40 Homebase stores would close.

Subscribe to Punchline

Related Articles

Council to face key questions over £500m waste incinerator project Image

Council to face key questions over £500m waste incinerator project

Gloucestershire County Council is being asked to answer six key questions about the controversial Javelin Park incinerator.

Historic Gloucestershire hotel snapped up for around £800,000 Image

Historic Gloucestershire hotel snapped up for around £800,000

A historic Gloucestershire hotel which was given the once over by Channel 5's The Hotel Inspector has been sold.

Aerospace giant plans to touch-down at business park Image

Aerospace giant plans to touch-down at business park

Plans have been revealed for one of the world's biggest aerospace companies to relocate operations onto a Gloucestershire business park.

New multi-million pound global headquarters opens  Image

New multi-million pound global headquarters opens

A £15 million headquarters for what is described as a “world leading manufacturer” has officially opened its doors in Gloucestershire.

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