The Australian owner of Homebase could quit Britain after writing down the value of the DIY chain by more than it paid for it less than two years ago.
Wesfarmers raised the prospect of aborting its troubled acquisition as soon as June after admitting that it had made serious blunders trying to replicate Bunnings, its successful Australian home improvement stores.
Rob Scott, Wesfarmers’ managing director added that Wesfarmers had earmarked between 20 and 40 of its 230 Homebase stores for possible closure, in turn putting up to 2,000 jobs at risk.
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