Major DIY retailer to shut branch TOMORROW after huge closing down sale
A MAJOR DIY retailer has confirmed a branch closure tomorrow after a huge sale.
The much-loved Homebase branch in Cambridge Retail Park will be closing its doors for good tomorrow, September 13.
Founded in 1979, with the first store being in Croydon, the major retailer now has 142 stores in the UK.
However, in June, posters and banners appeared in the Cambridge store that said: “All stock reduced” and “everything must go”.
To mark the end of the store’s era, a massive closing-down sale was launched to rid of all stock.
Shoppers took to social media at the time of the news to share their disappointment.
“That shop has been there for donkeys… Such a shame”, said one shopper on Facebook.
Another said: “This side of town is going to be a bit barren for shopping.”
“Where is everyone supposed to do their shopping once both of these sites have been redeveloped,” said a third.
According to Cambridgeshire Live, Railpen, a pension fund scheme, bought Cambridge Retail Park in 2023 for around £ 100 million and plans to redevelop the area.
It comes after Homebase confirmed it would close two of its other UK branches.
On September 6, the store in Northampton welcomed in customers for the final time.
It is understood the closure came as a result of the landlord’s plan to transform the site into two separate units.
In April, the Brentford Homebase also pulled its shutters down due to the site being redeveloped into housing.
The Homebase in Ledbury could also follow suit in 2025.
This is due to the lease coming to an end and a new one not being agreed with the landlord.
Homebase was founded by Sainsbury’s and Belgian retailer GB-Inno-BM to be a supermarket-styled British Do It Yourself market.
It is a store many Brits visit to improve, make and fix their homes and gardens.
They also sell brands such as Bathstore, Dulux, Farrow and Ball, Karcher, Powerbase and exclusive ranges from Country Living and House Beautiful.
Homebase was taken over by Hilco Capital in 2018, and has since closed around 100 stores.
Hilco bought the hardware store chain for £1 from Australian firm Wesfarmers, which paid £340million for what has been dubbed one of the “most disastrous takeovers ever seen”.
Wesfarmers is known for its Bunnings chain in Australia. It attempted to transform Homebase into its own DIY brand.
Prior to the takeover, Homebase had 250 stores at its peak with around 12,000 staff.
But Homebase soon returned to profit after it entered a CVA agreement and restructured its business.
Retailers closing stores in 2024
RETAILERS have been hit by soaring inflation and a downturn in spending due to the cost of living crisis.
High energy costs and a move to shopping online are also taking their toll.
Some high street shops have closed due to businesses opening up in different locations such as larger retail parks.
Shops may also close due to a number of other reasons, such as rising rents.
We explain which retailers are closing in 2024:
- Argos – The brand announced plans to close 100 standalone UK branches last year as it looks to move away from the high street and focus on expanding its presence in supermarkets.
- B&Q – The chain has over 300 shops across the UK, with two stores closing this year due to leases not being renewed. It has plans to open more in 2024 too.
- Boots – The health and beauty chain announced that it would be closing 300 stores last July. Closures are ongoing and this will see the retailer’s estate reduced from 2,200 to 1,900 shops.
- Clintons – Clintons mulled plans to close 38 shops in a bid to avoid insolvency late last year. We’ve listed the stores affected.
- Costa Coffee – The caffeine giant has around 2,000 sites nationwide, so chances are you’ll have one near you. The chain has shut the doors to dozens of its sites recently. We’ve revealed which stores are due to close this year.
- Iceland – The supermarket has more than 900 stores but closed nearly two dozen sites in 2023, and more selected shops are due to shut.
- Lidl – The supermarket, which has 950 stores, is changing up shop locations, which has meant that some stores have to close. But the retailer is also looking to open 12 new supermarkets.
- M&S – M&S, which runs 405 stores across the country, has been closing a string of branches across the country in a blow for shoppers. It’s not all bad news, though, because the chain also has big plans to open dozens of new shops.
- Trespass – The firm announced in July last year that it was closing six branches, but more are on the way.
- WHSmith – The retail giant, which runs over 1,100 stores, has shut eight stores since March 2023, but more are coming.