[Music] home based plans to close a quarter of all its UK stores with up to 2,000 jobs at risk home base is set to press ahead with a second wave of store closures that could see up to 80 DIY outlets shut putting between 1,500 to 2,000 jobs at risk he'll go Capital a retail turnaround specialist purchased the troubled DIY chain for one pound in May from Australian firm Wesfarmers the DIY chain is next week expected to announce it will file for a company voluntary agreement CVA a controversial and solvency procedure used by struggling firms to shut underperforming stores a total of 17 home-based stores have been shoved this year and the business has also axed 303 jobs at its head office in Milton Keynes in June it was reported that home base was exploring further store closures through the procedure home base would have to secure the support of landlords to carry out a CVA but the property industry has expressed consternation at the procedure which has been adopted by the likes of House of Fraser carpet right and Mothercare saying it leaves them out if pocket the latest restructuring would come on top of a store closure programme the retailer has been carrying out since February it comes at a challenging time for Britain's High Street businesses with the Daily Mail running a campaign to save Britain's high streets figures compiled by the Press Association shows staggering 50,000 retail jobs were axed in the first half of this year and a number of well-known high street brands have perished business leaders shopkeepers and MPs blame punitive business rates that high streets and hand a huge advantage to Internet giant's earlier this year Toys R Us and may plans both collapsed while chain restaurants such as preso Byron and Jamie's Italian shut restaurants and cold hundreds of jobs home base was bought by West farmers for 340 million pounds in 2016 West farmers is known for its Bunnings chain in Australia and attempted to import the home improvement brand to the UK by converting a host of home-based stores into the Bunnings however the fast pace of the transition gave Wesfarmers little time to introduce the Bunnings brand which is highly successful in Australia to UK consumers prior to the Hilco takeover home base had 250 stores at its peak and 12,000 staff restructuring experts at Alvarez and Marshall will carry out the CV a home base has declined to comment