Over 300 Homebase jobs to go in Milton Keynes

Homebase has said it is cutting more than 300 jobs at its support centre in Milton Keynes.

The struggling DIY chain is being sold to a retail structuring firm for a pound.

The job losses will hit head office staff with about a third of their number to be cut.

It is part of its plan to rebuild Homebase's position in the UK market. They say they'll offer as much support as they can to staff.

There are fears that some stores could also be under threat.

Homebase has 250 UK stores and employs around 12,000 people.