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Homebase to remain open

Fears that Newbury was about to loose another well known retailer have been abated.

On Friday it was revealed that Homebase was to close as many as 42 stores across the UK.

Stores in Oxford and Swindon will close as a result of the decision.

Fortunately the Newbury Retail Park store was not one of those that would close.

Their CEO said: “We now have the platform to turn the business around and return to profitability. This has been a difficult time for many of our team members and I am very grateful for their continued support and hard work.

“We can look to the future with great confidence, and we will be working closely with our suppliers to capitalise on the opportunities we see in the home improvement market in the UK and Ireland.”

According to Retail Gazette, Homebase will seek to reduce its rent bills between 25 per cent and 90 per cent on 70 other stores.

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