(MENAFN) Around 40 Homebase stores migh be closed by its Australian owner, which will jeopardize about 2,000 jobs.
Wesfarmers group has paid GBP320 million for the DIY chain in 2016, and has been re-branding the stores under the Bunnings name, but after a "disappointing" performance it has put Home-base under review and expects it to lose GBP97 million in the first half of this year.
Supermarket giants Tesco, Sainsbury's and Asda, were among the stores which have announced job cuts lately, while Homebase rival, B&Q, said last week that it was cutting 200 jobs at its head office in Hampshire as part of a cost-cutting drive.
Wesfarmers managing director said: "The Homebase acquisition has been below our expectations which is obviously disappointing."
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