DIY retailer Homebase has announced plans to close 42 stores, including it's Salisbury store.

Restructuring company Hilco, which bought the DIY chain for £1 in May, confirmed it was planning a Company Voluntary Arrangement (CVA).

The firm, which has 241 stores, said the affected outlets would be shut over the next 16 months.

Damian McGloughlin, chief executive 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.”

A total of 17 Homebase stores have already closed this year and the business has also cut 303 jobs at its head office in Milton Keynes.