Essential reading for retailers and suppliers in the home improvement market

Over 300 jobs axed at Homebase after Bunnings departure

Published: 29 June 2018 - Kiran Grewal
 

Homebase has announced it is cutting 303 jobs at its Milton Keynes head office after Bunnings parent Wesfarmers agreed to divest the Homebase business to Hilco Capital for just £1 in May, as it said the “risks associated with a turnaround don’t justify the additional investment and management required”.

Wesfarmers had intended to spend £500m on renovation and conversion of the Homebase stores to the successful Australian Bunnings brand, however the struggling UK market meant Bunnings struggled with footfall and consumer spending against other rivals in the industry. The company was expected to make a loss of nearly £100m in the first half of this year.

The job cuts are reportedly due to the withdrawal of the Bunnings brand from the UK, and in an effort to return the current Bunnings stores back into the Homebase brand, the support centre has been dramatically reduced in size. Homebase has 250 UK stores and employs about 12,000 people.

The chief executive of Homebase, Damian McGloughlin said: “We have not taken this decision lightly but decisive action is required to start rebuilding Homebase’s position in the UK market. We will be providing as much support as we can to help those affected through this difficult time.”

 

Comments


(Your email address will not be published)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

What do you think?


As a retailer, what do you struggle most with in the adhesives & sealants category?





Latest reader comments

re: Toolstation.com excels in Which? website survey

Ray Pearce
Toolstation is always straight forward from ordering from the catalogue to receiving the items and a comfortable welcoming place to browse ...

re: Better Bathrooms goes into administration

Carolyn Muggleton
HiWe purchased a shower enclosure from Better Bathrooms which we have returned to them and asked for our money back.. The amount we ...

re: Woolworths staff reunited by new website

Pam Jones
looking for Brian Finch who worked as an undermanager to Mr. Cotton in Ebbw Vale woolworths....

re: 13-year-old's invention goes into production

Gel
No point in responding to an 8 year old post!...

re: Capitol Tiles outlets snapped up by BC Ceramics

Beryl smith
Hi I bought some black tiles called night black by capitol tiles I need some spares do you know where I can get them thanks Beryl...

Most read stories