27 June 2016 - Janet Bird
The new owners of Homebase aim to reverse the previous management's store closure plans and could save up to 700 jobs.
Australian home improvements chain Wesfarmers said it has already successfully prevented the closure of seven Homebase stores, saving 200 jobs, and is hoping to keep 11 more open that had been earmarked for closure by previous owner Home Retail Group, thus safeguarding the future of up to 500 more employees.
Wesfarmers, which owns Australia's biggest home improvement retailer Bunnings, acquired the Homebase chain for £340 million in February and intends to rebrand the stores as Bunnings.
The group recently appointed former Asda Chairman Archie Norman to a board advising on Homebase's turnaround.