TOOLS DOWN
DIY giant with 144 branches to permanently shut ‘very useful’ branch TODAY – and a huge Lidl could take its place
Shoppers have taken to social media to share their disappointment
A MAJOR DIY retailer has confirmed that it's shutting one of its branches for good today - and a massive Lidl could replace it.
Homebase has 144 stores across the UK, including in major cities like Leeds, London and Manchester.
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Shoppers in East Grinstead, West Sussex, will sadly have to find an alternative DIY retailer as the branch closed today.
But for any Lidl lovers in the area, it may be good news.
Lidl is reportedly seeking approval from Mid Sussex District Council to demolish the Homebase site.
The supermarket giant were already given approval to take over the site back in 2021.
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If new plans are approved, a Lidl spokesperson reportedly said demolition and construction would start at the earliest opportunity.
These plans would see a plot of 1,373sq metres sales area with a bakery, a whopping 105 parking spaces and even solar panels fitted on the roof.
The store would also be expected to create up to 40 new jobs in the area.
Shoppers have taken to social media to share their disappointment over the closure of the Homebase store.
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One shopper posted: "It’s a shame. Very handy having them in town."
Another wrote: "Very sad to see Homebase go. A very useful store and great plant/gardening section."
A third cried: "It’s a real shame they are going. I used to like getting plants from there and we would get our Xmas trees there every year.
"I know there are other garden centres around but there’s a massive difference in prices."
And a fourth added: "I'll be lost without it."
East Grinstead have had a real hit to it's high street, with numerous retailers closing this year like Clarks, Jojo Maman Bebe and Natwest.
The announcement of the East Grinstead closure comes after Homebase confirmed it would shutter three other branches.
The DIY chain is closing a store in Northampton later this year.
The shop in the Riverside Retail Park will welcome in customers for the final time on September 6.
It is understood the closure comes as the landlord plans to transform the site into two separate units.
Homebase also revealed it will be closing its store in Cambridge Retail Park on September 13.
The retailer has previously confirmed that it will be pulling down the shutters on its branch in Ledbury in 2025.
This is also due to the lease coming to an end and a new one not being agreed with the landlord.
A lease gives you the right to use a property for business for a set period of time.
The DIY retailer also pulled down the shutters on its store in Brentford in April.
The site is being redeveloped into housing.
Homebase was taken over by Hilco Capital in 2018, and has since closed almost 100 stores.
Hilco bought the hardware store chain for £1 from Australian firm Wesfarmers, which paid £340million for what has been dubbed one of the "most disastrous takeovers ever seen";.
Wesfarmers is known for its Bunnings chain in Australia. It attempted to transform Homebase into its own DIY brand.
Prior to the takeover, Homebase had 250 stores at its peak with around 12,000 staff.
But Homebase soon returned to profit after it entered a CVA agreement and restructured its business.
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It is even reportedly on track to deliver double digit profits this year.
Homebase has been approached for comment regarding the East Grinstead branch closure.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre's director, Professor Joshua Bamfield, said the improvement is "less bad" than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
"The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend," Prof Bamfield said.
"Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult."
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
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