Homebase is continuing with its drive to cut costs by closing a number of under-performing stores with the aim of reducing its portfolio to less than 300 stores by the end of the year. To date it has closed a branch in Stockport and this will be followed by Plymouth, Grimsby, Stratford Upon Avon and Sunderland next month, and a further 20 locations by December . Rumours continue that Home Retail Group is planning to spin-off Homebase and that action being taken now is all part of creating a more attractive proposition for buyers. Homebase has annual sales of £1.5 billion.
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