2,000 at risk in Homebase closure plan
UP to 40 Homebase DIY stores could close, putting nearly 2,000 jobs at risk.
A botched revamp has led to mounting losses and the firm’s Australian owner plans to wield the axe.
Wesfarmers boss Rob Scott said: “A lot of the issues we are dealing with today were self-induced.”
The firm has set aside £40million for store closures after half-year losses ballooned to £100million.
Nineteen of Homebase’s 250 stores have been overhauled. But sources say the cost, at £2million per branch, is double that budgeted and investment has been slashed.
Mr Scott said “all options are open”, including pulling out of the UK, after weak winter sales figures.