Home Improvement Store Closing Dozens of Locations, Cutting Tons of Jobs

america
August 31, 2018Aug 31, 2018

For millions of homeowners around the world, fixing up their house is simply part of life. While some people are able to afford professionals to help them, others have to rely on do-it-yourself training and trips to their local home improvement stores.

Now, remodels may be a little bit harder for folks after a popular home improvement company has decided to close dozens of locations and to even lay off a lot of employees.

https://twitter.com/Telegraph/status/1035535187176767492

"The new owner of the DIY chain, Hilco Capital, has confirmed that around a fifth of Homebase's 246 stores will close in the latest blow to the high street," reported The Sun.

The layout comes as bad news for the employees of the popular store. They are said to be letting go of as many as 1,500 workers. That amounts to roughly 10% of their overall staff.

https://twitter.com/HovellingHermit/status/1035536063358484480

https://twitter.com/MirrorBreaking_/status/1035516199000526849

"Prior to the Hilco takeover, Homebase had 250 stores at its peak and 12,000 staff. CVAs have been adopted by a host of retailers including New Look, Carpetright and Mothercare, as retailers struggle with rising business rates, competition from online rivals and a slowdown in consumer spending," reported The Sun.

https://twitter.com/HuffPostUK/status/1035516651800809473

The news comes as a shock to many people who rely on their local Homebase for their home improvement needs. Some people have since commented on social media about what the changes will mean for them.

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