Homebase jobs axed

HOMEBASE is cutting 303 jobs at its support centre in milton Keynes.

The DIY chain, which was bought by australian conglomerate Wesfarmers for £340m in 2016, is being sold to retail restructuring firm Hilco for £1.

as part of the deal, a total of 24 stores that were trading as the Wesfarmers brand bunnings, will convert back to Homebase. The firm said it was releasing support staff for the bunnings brand, which is retreating from the UK, meaning they are no longer needed.

Chief executive Damian McGloughlin said: ‘We have not taken this decision lightly, but decisive action is required to start rebuilding Homebase’s position in the UK market.’