Embattled DIY retailer Homebase will restructure operations at its store support centre in Milton Keynes, resulting in the loss of around 303 head office roles, it has announced.
The support centre had served both Homebase and Bunnings brands prior to the recent sale of the business. (will link to coverage) Australian retailer Wesfarmers, which bought the brand in 2016 for £340m, expects to record a loss on disposal of up to £230m in the group’s 2018 full-year financial results.
In a statement Homebase said: “The changes reflect the need to align the store support centre with the operational and strategic changes that are being implemented. This is being down to ensure that Homebase is better prepared to meet the demands of the UK’s challenging retail environment.”
Damian McGloughlin, CEO of Homebase, added: “We have not taken this decision lightly, but decisive action is required to start rebuilding Homebase’s position in the UK market. We will be providing as much support as we can to help those affected through this difficult time.”