A quarter of Homebase DIY stores will be closed in the course of the next four years as parent company Home Retail Group adjusts to online shopping era.
The company stated that it would be more efficient for them to close several Homebase stores that were deemed "either unprofitable or in decline."
There are 323 Homebase stores currently and by early 2019, that number will be down to 242-a loss of about 80 stores.
Furthermore, the Homebase's managing director, Paul Loft, has also resigned from his position.
"Following the completion of the Homebase business review, Paul Loft, managing director of Homebase, and the group have agreed that now would be an appropriate time for Paul to step down from his role," Home Retail Group revealed in a statement.
Several factors have played in the downsizing of Homebase. According to a review of brand done by Home Retail Group, the increasing threat from online competition as well as the rise of a younger generation who are not that well-versed in DIY projects, coupled with the economic downfall led to the fall of Homebase.
Furthermore, the downsizing also threatens the 18,000 people who currently work for the company.
A Home Retail spokesperson explained that the employees would know first hand If they are to be redeployed elsewhere in the company or whether businesses taking over the locations would have jobs for them.
"Home Retail Group has announced a three-year plan for Homebase to revitalize sales to other retailers.
"Part of the plan will be to right-size the store estate through scheduled lease expiries and a series of sales to other retailers. Once they are identified, our colleagues will be the first to be informed about any of the affected stores, and where possible we will redeploy colleagues to other stores within the group, or encourage retailers buying or leases to offer roles within their businesses locally-these changes are necessary to make Homebase a stronger business for the future."
