1500 jobs at risk as Homebase set to close stores

Homebase is set to announce plans to close 42 stores, putting about 1,500 jobs at risk.

Restructuring company Hilco, which bought the DIY retailer for £1 in May, is expected to confirm its plans for a Company Voluntary Arrangement (CVA) later today.

It bought the struggling chain from Australia’s Wesfarmers after its disastrous foray into the UK market.