The Irish arm of the British home improvement store and garden centre, Homebase, is reported to be under examinership.
The chain that operates 15 stores in Ireland with 558 members of staff announced that it is taking into consideration to close three of its stores that staffs 17 full-time and 79 part-time employees. The three stores expected to close are: Fonthill in Dublin, Carlow and Castlebar, in Co Mayo. As for the future of the other 12 stores in Ireland, it all relies on the landlords’ compliance to renegotiate lease terms.
The high court appointed an interim examiner on 16 July while the Irish arm of the company struggles amid a collapse in the housing market and lackluster consumer spending over home improvement tools and services. Homebase reported that the move will help the business to find a sure footing again.
The DIY chain has not generated profit within the last five years and has witnessed its Irish stores suffer a decline in sales by 31 per cent since 2009.
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