Home Retail to shut 25% of its Homebase chain stores

London

HOME Retail, Britain's biggest household goods retailer, has said that it will close a quarter of its Homebase home improvement stores by 2018 as it prioritises the development of its main Argos chain.

The group said on Wednesday that its current estate of 323 Homebase stores will be reduced by 25 per cent over the next four years through a combination of lease expirations and property exit deals.