Aug 31, 2018

Homebase rescue plan voted through by creditors

Homebase creditors have voted in favour of a rescue plan that will see 42 stores closed. The chief executive of Homebase said the company voluntary arrangement would help turn the business around and return it to profitability. Homebase was bought by Hilco Capital for £1 in June. It plans to invest £25m to revive the DIY chain. Homebase, which has about 250 stores and 11,500 staff, now plans to bring back popular brands and concessions such as Laura Ashley and Habitat.

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