The Homebase store in Bath is to close in November as part of major restructuring plans by their new owners, following a troubled period of trading for the chain over the past few years.
© Bath Echo
DIY retailer Homebase, which was bought by restructuring company Hilco for £1 in May, is currently undergoing a major overhaul in a bid to secure the company’s future.
42 stores across the UK and Republic of Ireland were earmarked for closure back in August 2018, however the Bath site was not included in the list.
Speaking about store closure plans in August, a spokesperson said: “Homebase’s sales performance and profitability declined significantly under the previous ownership over the last two years.
“In addition, the company has faced an extremely challenging retail trading environment reflecting weak consumer confidence and reduced consumer spending.
“These factors have had a significant adverse impact on Homebase’s trading position.”
CEO of Homebase, Damian McGloughlin, said: “Homebase has been one of the most recognisable retail brands for almost 40 years, but the reality is we need to continue to take decisive action to address the underperformance of the business and deal with the burden of our cost base, as well as to protect thousands of jobs.”
Following a comprehensive review, Homebase concluded that its current store portfolio was no longer viable, the rental costs associated with stores were unsustainable and many of their stores were loss making.
© Bath Echo
It is unknown what will happen to the store at Pines Way, however there has been plenty of interest in the past.
Plans to demolish the Homebase site in Bath were announced in 2013, including proposals to build a new Sainsbury’s supermarket on the site, and regenerate the land around Green Park Station. They were later withdrawn.
It is believed Homebase has a lease for the site until December 2020.
Reacting to the news that Homebase will close in Bath, the city’s MP Wera Hobhouse said: “Homebase will leave a hole in Bath, but it means that there’s potentially a significant amount of land is opening up for re-development next to the city centre.
“Based on Sainsbury’s previous plans, they wanted to move to the Homebase site, so the land around Green Park station could become available.
“If Sainsbury’s do move, it would be a huge opportunity. That land would be perfect for a mixed used development, designed around the needs of the people of Bath.
“It would be the ideal location for a public facing police station, along with lots of desperately needed social housing. Let’s have some vision!”
Homebase in nearby Frome was one of the stores converted to Bunnings during Wesfarmer’s ownership of the brand, but was changed back to Homebase earlier this year following the sale to Hilco.
The Homebase store at Pines Way in Bath will close on Saturday 24th November 2018.
We’ve contacted Homebase, and their current owners Hilco, for a comment on the closure.
