Homebase is pressing ahead with a wave of store closures that will see 42 DIY outlets shut, putting around 1,500 jobs at risk.
The retailer is closing the stores via a Company Voluntary Agreement (CVA), a controversial insolvency procedure used by struggling firms to shut under-performing shops.
It is anticipated that the 42 stores, 10 of which are located in Scotland, will close during late 2018 and early 2019.
The company said in an announcement today that the process will “lead to a reduction of up to 1,500 roles”, adding that “every effort will be made to redeploy team members within the business where possible.”
Confirming the store closures, Homebase boss Damian McGloughlin said: “Launching a CVA has been a difficult decision and one that we have not taken lightly.
“Homebase has been one of the most recognisable retail brands for almost 40 years but the reality is we need to continue to take decisive action to address the underperformance of the business and deal with the burden of our cost base, as well as to protect thousands of jobs.
“The CVA is therefore an essential measure for the business to take and will enable us to refocus our operations and rebuild our offer for the years ahead.”
Here’s the full list of stores closing in Scotland:
- Aberdeen Bridge of Don
- Aberdeen Portlethen
- East Kilbride