HOMEBASE could announce plans to close around a quarter of its stores next week.

It has been reported that the new owner of Homebase, who took over in May, is expected to outline proposals for a Company Voluntary Arrangement that will would lead to around 60 of its 249 stores to close.

There are a range of Homebase stores in the nearby area based in Stroud, Swindon, Gloucester, Cheltenham, Bath and Bristol, but no stores have been confirmed as closing yet.

This comes just over a month after House of Fraser confirmed they had filed in the court proposals for Company Voluntary Arrangements which is set to close 31 stores including the store located in Cirencester by early 2019.