Bunnings has hired Lazard to help it find a buyer for the part-rebranded Homebase chain it acquired in 2016. The retailer has hit major problems including a downturn in sales since it introduced its Australian model to UK stores, removing popular product lines, and majoring on lines which sell readily in Australia but have limited appeal for the average UK shopper. Owner Wesfarmers suggested in February that it would be looking to close up to 40 of the 250 stores it acquired but it is now understood to be taking the more radical path of a complete exit from the UK market. Elsewhere in the DIY sector, most are reporting very poor sales in the gardening segment with bad weather having put customers off, and generally less buoyant Spring season demand.
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