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

Forest Green Rovers appoints new chief executive Image

Forest Green Rovers appoints new chief executive

Henry Staelens becomes youngest CEO in professional football.

Shurdington Road Cheltenham to close for two weeks Image

Shurdington Road Cheltenham to close for two weeks

Drivers hoping to leave the end of the Bath Road in Cheltenham and make their way along the Shurdington Road with ease through early November may have a challenge.

Rural Business Awards won by county firms Image

Rural Business Awards won by county firms

A quartet of awards have been brought back to Gloucestershire from the Rural Business Awards South West.

Businesses invited to train with top rugby stars Image

Businesses invited to train with top rugby stars

Team-i Training presents a rugby inspired masterclass for business.

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