Tuesday, November 20, 2018
The skye times mobile

The Inverness-based Homebase store will close, along with 9 other Scottish stores, the DIY retailer has confirmed.

The Scottish stores are among 42 across the UK that are to close between late 2018 and early 2019.

Restructuring company Hilco, which bought Homebase for £1 in May, says it is planning a Company Voluntary Arrangement (CVA).

A CVA is a controversial insolvency procedure used by struggling firms to shut under-performing shops. 

Homebase has already closed 17 stores across the UK this year, and axed 303 jobs at its headquarters in Milton Keynes.

Homebase said staff at closed stores will be redeployed within the business where possible. It has been unable to say how many staff will be affected in Scotland.

Homebase chief executive Damian McGloughlin said: "Launching a CVA has been a difficult decision and one that we have not taken lightly.

"Homebase has been one of the most recognisable retail brands for almost 40 years, but the reality is we need to continue to take decisive action to address the under-performance of the business and deal with the burden of our cost base, as well as to protect thousands of jobs.

"The CVA is therefore an essential measure for the business to take and will enable us to refocus our operations and rebuild our offer for the years ahead."

 

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