Homebase Ireland incurs €1m loss due to covid-19 subsidy repayment and closure of Limerick store

Directors state that the business achieved a gross margin of 45.5% during the year “and the gross margin rate reduced 7.6 percentage points year on year, mainly due to the impact of rising inflation and higher freight costs”

Numbers employed at Homebase in Ireland reduced from 267 to 247 and staff costs declined from €5.95m to €5.87m.

Costs associated with the closure of Homebase’s Limerick store and the firm repaying covid-19 wage subsidy payments resulted in the Irish arm of Homebase recording €1m pre-tax losses in 2022.

New accounts show that Homebase firm, HHGL (ROI) Ltd, recorded the €1m pre-tax loss after revenues slumped by €12.4m or 21% from €58m to €45.59m in the 12 months to the end of January 1, 2023.