Crucial vote for Homebase as creditors vote on store closure plan

DIY chain Homebase is hoping for approval from creditors to close 42 stores, with the firm risking administration if the plan is rejected.A decision is expected on Friday afternoon after the creditors vote on the proposal to close stores and reduce rents.Hilco Capital, which bought the chain for £1 in May, has put forward a plan to revive Homebase's fortunes that involves a controversial Company Voluntary Arrangement (CVA).