1,500 jobs at risk after Homebase creditors approve CVA proposal

More than 40 Homebase stores are to close after 95.92% of its creditors agreed the plans as part of a Company Voluntary Arrangement (CVA) proposed by the struggling firm on August 14. Damian McGloughlin, Homebase chief executive, said: “We are pleased that an overwhelming majority of our creditors, including such a proportion of landlords, have supported the plans laid out in the CVA. "We now have the platform to turn the business around and return to profitability. "This has been a difficult time for many of our team membe... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...