News | Six months in under Hilco Capital


Homebase cuts losses following closures and job reductions

Homebase is reintroducing a furnishings range.

Homebase is reintroducing a furnishings range.

Following its acquisition by Hilco Capital in June 2018, the British DIY chain Homebase has substantially reduced its losses. A press release states that the loss based on EBITDA in the second half of 2018 fell by GBP 140 mio to GBP 33 mio.

Sales between July and December totalled GBP 497.8 mio, 3.5 per cent down on the same period in the previous year. However, 47 unprofitable stores have also been closed since the acquisition. The chain currently has 186 outlets in Great Britain and Ireland.

The turnaround plan implemented by the new management around CEO Damian McGloughlin was aimed primarily at reducing fixed costs by GBP 100 mio. In addition to store closures, this was achieved by cutting 38 per cent of the jobs in the head office and relinquishing two of the six distribution centres.

By the company's own account, productivity in the remaining stores has been improved by the reintegration of ranges that Homebase was known for prior to its takeover by Wesfarmers/Bunnings, such as furnishings and soft furnishings. The kitchen and lighting offer has been upgraded, and in-store concessions have been reintroduced with brands such as Tapi, Silentnight and Ponden Home. Another feature that has been highlighted is enhanced team member training, which 95 per cent of the employees have undergone.

|18 April 2019

More about the company

Post a comment

* Please complete the areas marked in red correctly and in full!.

(will not be published)

* obligatory fields

Latest news

Bricoma also targets new strategy with 17th store

The opening of its 17th store also marks a strategic restructuring for the Moroccan DIY store operator Bricoma: the holding has entered the View news...

New Kingfisher format and own brand GoodHome

Kingfisher has presented its new own brand GoodHome at the same time as its new express format of the same name. The store, designed as convenience View news...

Kingfisher gains in the UK and loses in France

Clear plus in Great Britain, clear minus in France: for the British Kingfisher group, the first quarter (ending 30 April 2019) was characterised by View news...

Spoga+Gafa 2019 foregrounds city gardening

City gardening is the major theme at Spoga+Gafa 2019. The theme will be "omipresent" at the trade fair at the start of September in Cologne View news...

Actual figures

Statistics Home Improvement Europe

Statistics Home Improvement
This brochure provides a competent overview of the situation in the Home Improvement sector in 31 European countries.

Order now!

6th Global DIY Summit 2018

Color Expert, painting tools

Color Expert

COLOR EXPERT for painting tools

More than 1 100 participants came to the 6th Global DIY Summit in Barcelona. Here are the portraits of some of the most important companies that exhibited at the International Congress Exhibition.