Homebase to shut quarter of outlets

DIY chain Homebase is to close a quarter of its stores and has ditched its boss after a review by parent company Home Retail Group found failings in its sales performance.

The group, which also owns Argos and has a dozen Homebase stores in the Republic of Ireland, said the number of stores would fall by around 25% from 323 this year, a loss of about 80 outlets in the period up to early 2018. It is already shutting 30 in the current financial year.