Homebase rescued from collapse but 1,500 jobs to go

Creditors approve CVA that entails 42 branch closures and landlords taking 90% rent cutsHomebase is to cut 1,500 jobs as part of a rescue deal that will save the DIY chain from bankruptcy and give it breathing space to recover from the disastrous stewardship of its previous owners.Creditors voted in favour of a company voluntary arrangement (CVA), that will lead to the closure of 42 out of 241 branches, with landlords of a further 70 stores agreeing to accept rent cuts of up to 90%. Continue rea