Homebase announced on 14 August 2018 that it will close 42 stores across the UK. They will be shut over the next 16 months in addition to the 17 which already closed their doors earlier in the year. As well as the job losses at stores, around 300 people have been made redundant at the company’s head office in Milton Keynes.
Homebase gift vouchers
If you have gift vouchers for Homebase it would be wise to get them spent now. Why? Well it is likely that these 42 stores will close soon and others may well follow. You may well have to travel further to get them spent. Also, if the chain continues to have problems and closes altogether you will not be able to spend your gift vouchers at all.
The same applies to having to deal with any returns. It may also be more difficult if the chain is in trouble to assert your legal rights, as it possible that stores will try and encourage you to take repairs and replacements rather than a refund. Remember that the Consumer Rights Act 2015 entitles you to a full refund up to 30 days from purchase for items not fit for purpose or not of satisfactory quality. The act applies to the company as a whole and not to a particular store.
The restructuring company Hilco, which bought the chain for £1 in May 2018 has confirmed that it is planning a Company Voluntary Arrangement. This is a formal deal between an insolvent business and its creditors by which the company seeks to keep going, often through drastic cost savings, such as closing stores.
The BBC article Homebase plans to close 42 stores and cut 1,500 jobs explains more about the background and what is happening with the chain. Here’s a full list of the Homebase stores that will close following this most recent announcement.