Homebase 'brings in consultancy firm' to advise management as company's crisis deepens
PUBLISHED: 15:58 13 April 2018 | UPDATED: 15:58 13 April 2018
Archant Norfolk Photographic © 2012
Homebase is rumoured to have drafted in specialist consultants to help advise its management team as fears over its future intensify.
The appointment of Boston Consulting Group (BCG) to advise managing director Damian McGloughlin, reported by the Press Association, comes as its parent company, Australian conglomerate Wesfarmers, is conducting a strategic review of the DIY chain.
Homebase’s future was thrown into doubt two months ago when Wesfarmers said half-year losses at the company would widen from £28m to £97m.
Rob Scott, Wesfarmers’ managing director, warned up to 40 stores could close – putting 2,000 jobs at risk.
Homebase has branches in Bury St Edmunds, Colchester, Cromer, Ipswich, Sudbury and Hall Road, Norwich.
Two former branches in Newmarket and Roundtree Way, Norwich have recently reopened under the Bunnings Warehouse brand, also owned by Wesfarmers.