Bathstore saved as Homebase agrees to buy 44 stores -…

Bathstore saved as Homebase agrees to buy 44 stores - but 124 will close

DIY chain Homebase has confirmed that it has acquired Bathstore, .

The company will take 44 branches over, however 124 stores in its estate face closure.

The move places hundreds of jobs on the line - with the changes expected to happen in the next 18 months.

Homebase said during this period, it plans to open a "significant" number of Bathstore concessions in its own stores - which will strengthen it against the likes of rival B&Q.

Damian McGloughlin, CEO of Homebase, said: "We are absolutely delighted to welcome Bathstore into the Homebase family.

"With a reputation for quality service and excellent products, Bathstore complements Homebase's reinvigorated range."

Homebase, which has been plagued by its own profit warnings in the past few years, was founded by Sainsbury's 40 years ago.

In 2016, it was sold to Australian brand Wesfarmers, who invested £340million in trying to revive it. Dozens of stores were rebranded into Bunnings Warehouses - but it was short lived.

The unsuccessful move saw it sold to turnaround specialist Hilco Capital for just £1 last year.

Bathstore branches at risk

Homebase has announced that around 124 branches are on the line as a result of the acquisition - however these have not yet been named. Below is a full list of stores around the country.

East Anglia