BROMSGROVE'S Homebase is staying put after it was not included in a list of 42 sites to close.

HHGL Limited (Homebase) has announced the raft of store closures today as part of a restructuring plan which will lead to up to 1,500 job losses.

The retailer is closing the stores via a Company Voluntary Agreement (CVA), a controversial insolvency procedure used by struggling firms to shut under-performing shops.

It is anticipated that 42 stores will close during late 2018 and early 2019, but Bromsgrove's store on Sherwood Road will remain.

Droitwich is one of the 42 stores included for closure.

Homebase say the changes have been made as rental costs are unsustainable and many stores are loss making, with profits declining significantly over the last two years.

Damian McGloughlin, CEO of Homebase, said: “Launching a CVA has been a difficult decision and one that we have not taken lightly.

"Homebase has been one of the most recognisable retail brands for almost 40 years, but the reality is we need to continue to take decisive action to address the underperformance of the business and deal with the burden of our cost base, as well as to protect thousands of jobs.

"The CVA is therefore an essential measure for the business to take and will enable us to refocus our operations and rebuild our offer for the years ahead.”

Creditors will vote on the CVA on 31 August 2018.