Tuesday, 23 October, 2018

Homebase owner 'plans to close 60 stores'

Homebase is planning to axe 60 stores Homebase is planning to axe 60 stores
Rhonda Young | 09 August, 2018, 16:37

Homebase is set to close about 60 stores next week, putting more than 1,000 jobs at risk.

New Look, Carpetright and Mothercare are among the companies to have adopted CVAs this year as the high street struggles with subdued consumer spending, rising labour costs, higher business property taxes and growing online competition.

Knicks still looking to part with Noah
He struggled in his first season with the team and just logged in 5.0 points and 8.8 rebounds in 22.1 minutes per game. The sides announced a "mutually" agreed upon indefinite leave for Noah on February 2, which he never returned from.

The process is expected to be handled by Alvarez & Marsal, a specialist adviser on corporate insolvencies which advised Toys R Us on a CVA before the toy retailer collapsed earlier this year.

Hilco and Homebase both declined to comment. In the East of England it has outlets in Bury St Edmunds, Cambridge, Cromer, Dereham, Felixstowe, Ipswich, Lowestoft, Newmarket, Norwich's Hall Road and Sprowston.

Paul Scholes slams former club amid Liverpool and Man City spending
Many are tipping Liverpool to be their closest challengers this season, after a a £123.6m spending spree this summer. There we will understand better which is the best way [to get the most out of the team].

Homebase was meant to be a launchpad from which the Australian retailer would take on B&Q in a battle for supremacy in the DIY market.

Hilco, which rescued HMV five years ago, has been working on the CVA since buying Homebase from Wesfarmers, the Australian group which paid £340m for it in one of the most disastrous takeovers ever seen in the British retail sector.

Drivers stop work, call for Uber pay boost
The San Francisco-based company, which was founded in 2009 and operates in more than 600 cities worldwide, opposes any government-set cap on drivers, Post said.

The company was forced to write off millions after axing some of Homebase's most popular lines, according to Sky. Following Wesfarmers' withdrawal, however, it was decided it would revert to Homebase branding, and reopened under its previous name on Wednesday. The result has been thousands of jobs lost on the high street.

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