Homebase cuts 300 jobs as more store closures loom

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Third of head office roles axed as new owners reportedly consider closing up to 80 stores

Homebase is cutting 300 jobs at its Milton Keynes head office amid speculation that up to 80 stores will close after its takeover by the restructuring specialist Hilco.

The loss-making DIY chain was bought by the owner of HMV for £1 in a deal agreed in May after its previous Australian owner, Wesfarmers, pulled the plug on a “disastrous” venture into the UK.

Related: Tell us: do you work in retail and are affected by redundancies?

Related: I won’t cry for Homebase, but I fear for our high streets | Stephen Moss

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