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Homebase announce further store closures

News reached the Insight DIY offices over the weekend that Homebase plans to close at least another 13 stores over the next few months.

Staff at the affected stores were briefed last Friday that a consultation period had started. At this stage, we believe the affected stores include Preston (Queen Street), Falkirk, Grimsby, Sutton in Ashfield, Loughborough, Watford, Burnley, Leyland and Huddersfield.

This statement was made in the recent HRG full year results presentation dated 30th April 2014 and available now to download from our Articles section.

"As part of Homebase’s on-going management of the store portfolio, there were 13 store closures during FY14 leading to a reduction in the store portfolio to 323 stores. This level of store closures was consistent with its plans at the start of the year and, over the next five years, Homebase has around a further 65 store lease renewals or break clauses due. During the year, Homebase’s stores in Ireland were subject to an examinership process which resulted in two store closures and rent reductions across the remaining 13 Irish stores. Homebase will continue to examine the opportunity for store closures, relocations or downsizes".

We will continue to keep you updated.

13 May 2014
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