Homebase is poised to announce plans for a CVA which could see around 60 stores close and 1000 employees face redundancy. According to Sky News Hilco Capital, which bought Homebase for just £1 in May following a disastrous £340 million acquisition by Wesfarmers in 2016, is planning to announce the planned CVA next week. It is understood that Alvarez & Marshal will handle the CVA, which is expected to see between 50 to 80 of the retailers 249 store-estate shut, including the 18 stores that have pulled their shutters since the start of the year.
See original here:
Hundreds of jobs at risk as Homebase set to announce CVA