DIY retailer suffers €46m losses

THE Irish arm of the DIY and garden centre retailer Homebase last year plunged further into the red, recording pre-tax losses of €46.1 million.

Accounts filed by Homebase House and Garden Centre Ltd show that the firm sustained the loss after booking a €43.5m impairment and onerous lease charge as a result of the continuing retail downturn.

The €46.1m loss in the 12 months to the end of February 26 this year follows Homebase sustaining a pre-tax loss of €1.26m the previous year.