Homebase has 15 stores in the Republic of Ireland and employs 558 people. It said it is considering closing three stores.
Sales at the Irish business have fallen by 31% since 2009 and it has not made a profit in the past five years. It blames the poor performance on the dramatic reduction in Ireland’s housing starts – down from 93,000 in 2007 to 8,500 last year – and lower consumer spending on RMI products.
All stores will continue to trade as normal while the company restructures to put it back on a "sustainable footing".
