Homebase fears

HOMEBASE is exploring a second wave of store closures that could see up to 40 more outlets shut.

The DIY chain is sounding out advisers for a company voluntary agreement. Sources told the Press Association that restructuring experts at Alvarez & marsal are being scouted by Homebase for the CVA, although other options are being assessed alongside this.

The CVA would come on top of a store closure programme the retailer has been carrying out since February. A total of 17 Homebase stores have been shut, with another 23 earmarked for possible closure.