Homebase Bournemouth set to close
The home improvement retailer has confirmed the store on Mallard Road in Bournemouth will cease trading this autumn but shuts down rumours that its Horsham outlet is also at risk, adding that the business “is confident in the future of Homebase Horsham”.
The latest in a series of closures, it has been revealed that Homebase will cease trading from its premise on a retail park in Bournemouth, as the retailer has failed to negotiate a reduction in its annual rent bill of nearly £1million.
Under the terms of its CVA, announced last August, Homebase has been paying £92,000 – just 10% of its £920,000 annual rent – and, whilst a new agreement was set to be negotiated by July, Homebase has opted to close the store after failing to agree a rent reduction with the council which owns the site.It follows news that 69 Homebase stores are set to shut or have already closed their doors this year. Commenting last month, a Homebase spokesperson explained: “Since the launch of our CVA in August...
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