Homebase set to close 42 stores in CVA

Homebase

Restructuring company Hilco is set to close 42 Homebase stores as part of a proposed company voluntary arrangement (CVA) that is expected to be entered into with the support of landlords later today.

Hilco bought the DIY chain for £1 in May and is expected to enter into a CVA having consulted with landlords across Homebase’s 241 store portfolio. Hilco bought the struggling chain from Australian firm Wesfarmers after a failed project to launch its own DIY brand Bunnings in the UK. and last week appointed Alvarez & Marsal to carry out a restructuring exercise.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article.

Sign up now for the following benefits:

  • Four FREE articles of your choice per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.

Registered users and subscribers SIGN IN here to continue