Hilco to close 60 Homebase outlets in restructuring

Homebase

Restructuring company Hilco is reportedly set to close up to 60 Homebase stores having acquired the chain for £1 earlier this year.

Hilco bought the struggling chain from Australian firm Wesfarmers after a failed project to launch its own DIY brand Bunnings in the UK.

The DIY chain is expected to announce a Company Voluntary Agreement (CVA) next week having appointed Alvarez & Marsal to carry out a restructuring exercise.

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