DIYWEEK.net

 

Homebase creditors approve Company Voluntary Arrangement proposal

Published: 31 August 2018 - Kiran Grewal

Homebase has announced that the Company Voluntary Arrangement (CVA) proposal launched on 14 August 2018 has been approved with 95.92% of the company’s creditors voting in favour of the arrangement.

CEO of Homebase, Damian McGloughlin said: “We are pleased that an overwhelming majority of our creditors, including such a proportion of landlords, have supported the plans laid out in the CVA. We now have the platform to turn the business around and return to profitability. This has been a difficult time for many of our team members and I am very grateful for their continued support and hard work.

“We can look to the future with great confidence, and we will be working closely with our suppliers to capitalise on the opportunities we see in the home improvement market in the UK and Ireland.”

Under the terms of the CVA proposal, 42 stores have been identified for closure during late 2018 and early 2019.

 

 

Comments

31 August 2018 15:05:51
Robert

Does this mean other premises in the same retail parks, with the same landlords, will also see their rents reduced by 50%? It is only fair!


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

Wally
I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories

http://www.diyweek.net/homebase-creditors-approve-company-voluntary-arrangement-proposal