By Richard Hook2018-08-14T11:54:00
Source: Photo © Given Up (cc-by-sa/2.0)
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.
You must be logged in to continue
Try Property Week For Free to finish this article.
Sign up now for the following benefits:
To access this article TRY FOR FREE NOW
Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.
Registered users and subscribers SIGN IN here to continue
Site powered by Webvision Cloud