Store closures alert: Homebase on brink of collapse as 130 shops at risk of shutting down

DIY chain could close within weeks unless a buyer is found, putting 2,000 jobs at risk

Homebase is on the brink of collapse, putting 2,000 jobs at risk and leaving 130 stores facing closure.

The DIY chain has been struggling for several years and has been loss-making for the past three years. It was bought by Hilco Capital in 2020, but the turnaround plan has failed to deliver.

Hilco Capital is now seeking a buyer for Homebase, but no deal has yet been agreed. If a buyer cannot be found, the company is likely to go into administration, which would result in the closure of all 130 stores and the loss of 2,000 jobs.

Homebase's financial problems have been exacerbated by the cost of living crisis, which has led to a decline in consumer spending. The company has also been hit by competition from online retailers such as Amazon and B&Q.

The potential closure of Homebase would be a major blow to the UK retail sector. It would also be a significant loss for customers, who have come to rely on Homebase for their DIY needs.

The company has been trying to reduce costs and improve its product offering in recent months, but it has been unable to turn its fortunes around. The future of Homebase now hangs in the balance, and it is unclear whether the company will be able to survive.

What does the future hold for Homebase?

The future of Homebase is uncertain. If a buyer cannot be found, the company is likely to go into administration, which would result in the closure of all 130 stores and the loss of 2,000 jobs.

However, there is still hope that Homebase can be saved. The company has a strong brand and a loyal customer base. If a buyer can be found who is willing to invest in the business, Homebase could still have a future.

What can customers do?

Customers who are concerned about the future of Homebase can do a number of things to support the company.

They can continue to shop at Homebase stores, and they can also sign up for the Homebase loyalty card. Customers can also follow Homebase on social media and leave positive reviews online.

By showing their support for Homebase, customers can help to keep the company afloat and give it a chance to turn its fortunes around.