DIY chain with 153 stores to shut more shops in weeks – as shoppers fear they'll lose out on 'the best' Xmas decorations | The Sun
A DIY chain with more than 150 stores is shutting more shops within weeks and shoppers fear they'll lose out on "the best" Christmas decorations.
Homebase has announced the closure of two stores in November.
The DIY chain will shortly bring the shutters down on its store in Marsh Mills Retail Park in Plymouth.
A spokesperson for Homebase said: "We'll be closing our Plymouth Marsh Mills store in November, an exact date is yet to be confirmed."
Customers will have to travel 30miles east to get to the next closest store in Newton Abbot after the Plymouth store shuts.
At the same time, Homebase bosses have confirmed that their store on Southam Road in Banbury will shut next month too.
Read more in money
BYE BYE
B&M to close another shop in weeks – but shoppers are promised 'bigger and better'
FIT FOR A KING
Royal Mint reveals eight new coins featuring King Charles
Again, an exact closing date is yet to be announced by Homebase but "store closing" signs have been placed outside the store announcing a closing down sale.
The posters read: "All stock reduced" as "everything must go".
Reacting to the news on Facebook, one shopper said: "Nooo. I love buying my Christmas decorations from here."
"Gutted I love Homebase why can't B&Q go or Wickes go," said another.
Most read in Money
I’M LOVIN’ IT
McDonald’s to make major menu change with seven new items in DAYS
SAY WATT
Millions face ANOTHER crippling energy bill hike – and reason will infuriate you
JOB LOT
The 15 most popular jobs where you could earn up to £70,000 without a degree
PIE CHARTS
I tested supermarket chicken pies & winner could have come from a good gastropub
Customers will have to travel 15miles to get to the next closest store in Bicester after the Banbury store shuts.
Homebase is then pulling the plug on its shop at the O2 Centre on Finchley Road in London on December 10.
It comes after the retailer shut its Newport store in South Wales on September 8.
Homebase has closed 93 stores since it was taken over by Hilco Capital in 2018.
Hilco bought the hardware store chain for £1 from Australian firm Wesfarmers, which paid £340million for what has been dubbed one of the "most disastrous takeovers ever seen".
Wesfarmers is known for its Bunnings chain in Australia. It attempted to transform Homebase into its own DIY brand.
Prior to the Hilco takeover, Homebase had 250 stores at its peak and 12,000 staff.
But Homebase soon returned to profit after it entered a CVA agreement and restructured its business.
The retailer recently launched a huge gardening sale with some items up to 50% off.
Why are retailers closing stores?
Retailers have been feeling the pinch since the pandemic while shoppers are cutting back on spending due to soaring inflation.
High energy costs and a shift to shopping online after the pandemic are also taking a toll and many high street shops have struggled to keep going.
Brands like Frasers have been moving and relocating profitable stores and brands within department stores but other brands have been shutting stores for good.
The inability to renegotiate rents and agreements with landlords is also putting pressure on some retailers to pull out of some locations.
A number of well-known retailers including Argos, Lloyds Pharmacy and Poundstretcher have closed stores in recent months.
But others have been hit so hard they've been left on the brink of administration.
However, some big brands are expanding the number of stores they operate.
Poundland is opening 15 new stores over the next few weeks.
Read More on The Sun
INVISIBLE HAZARD
Last pic of toddler on balcony shows hidden danger before deadly plunge
first time around
Big Brother in huge format shake-up that will shock viewers
These openings form part of the retailer's plans to bring the shutters up on 50 new stores by the end of the year.
B&M is also opening more than a dozen new branches across the UK by the end of 2023.
Source: Read Full Article