By Sam Greasley-Machin

B&M could very soon be coming to Andover with a potential move into the current Homebase site on Enham Arch Retail Park.

Speculation began circulating after a job advert was seen online for a job opening at B&M in Andover, currently there are no stores in the town with the nearest found 13 miles away in Amesbury and other nearby stores in Salisbury and Basingstoke.

One staff member at Homebase in Andover, who wished to remain anonymous, said he believed it was “common knowledge that Homebase is closing” and that he expected “B&M will be moving in”.

The staff member also said that as far as they are aware of “no job transfers will be taking place” for current staff members at Homebase to work for B&M, should the site open.

The Andover Advertiser contacted B&M to ask for a comment on the speculation of a potential move into the current Homebase store, but the discount retailer could neither confirm or deny a potential move to Andover.

A spokesperson for B&M said: “We’re always looking at sites for new stores and would welcome the opportunity to invest in the region.”

As reported previously Homebase is closing after “store closing” and “everything must go” signs first began appearing outside in December. It was expected that the Andover store was another casualty of the company’s many store closures in recent years.

However, having contacted Homebase the Advertiser has found that it was indeed the landlord who has cancelled the current lease - not the retailer.

A Homebase spokesperson said: “We can confirm our Andover store will be closing with the last day of trading set for February 20, 2020 as a result of the landlord terminating the lease.”

The Advertiser also contacted the real estate service provider for the landlord, JLL, for a response - they are yet to respond.

More than 50 Homebase stores have shut up shop in recent years.

A wave of closures were announced in August 2018, affecting 42 locations across the country. Then in July of this year it was revealed that another 15 outlets would cease trading.

The Newbury store was one of those to close down earlier this year. It means that Andover residents will have to travel to 17 miles to Winchester or 20 miles to Basingstoke to find their nearest Homebase store.

The closures capped off a tumultuous few years for the company. In February 2016, Homebase was sold for £340 million to Australia conglomerate Westfarmers – the firm behind Bunnings, the leading household hardware chain down under.

Westfarmers planned to rebrand the stores under the Bunnings name, but plans were nixed amidst mounting losses.

The company was then forced to pull the plug and sell the Homebase brand to Hilco Capital, a retail turnaround specialist, for just £1 in June of last year.

The Westfarmers venture was widely touted as one of the most "disastrous" acquisitions in retail history, according to experts.

Following the sale to Hilco Capital, a “comprehensive turnaround plan” was put into action. And for the six months ending December 30, 2018, the company announced a 22 per cent rise in gross profits and an 81 per cent decline in EBITDA (earnings before interest, taxes, depreciation and amortisation) losses.

However stores have continued to close since then with the Andover branch set to become the latest to cease trading.