Home Business NewsBusiness Thousands of Homebase jobs at risk as bidders circle struggling firm

Thousands of Homebase jobs at risk as bidders circle struggling firm

by LLB Reporter
23rd May 18 2:47 pm

Here’s what you need to know 

Thousands of Homebase jobs are at risk as  bidders are circling the UK’s second biggest DIY chain.

According to Sky News, Homebase owner Wesfarmers, the Sydney-listed company, received final bids this week from three turnaround investment firms: Alteri Investors, Endless and Hilco.

A decision is expected to be made by Wesfarmers and its advisers about a preferred bidder before the weekend.

Alteri and Hilco are frontrunners for the business but are reportedly eying lay-offs to turnaround the business. 

The UK DIY chain, which employs more than 11,000 people, saw sales in the three months to the end of March fall by 13.5 per cent  to £211m.

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