Business & Technology
Staff ‘gutted’ as UK giant cuts thousands of jobs amid administration
A report reveals for the first time the extent of job losses at Homebase and that 1,299 creditors face losing more than £700m following the 2025 closure.
The home and garden giant, which had 135 stores across the UK, slumped into administration after suffering losses of over £59m. At that stage, it had 3,446 employees.
Among the Homebase stores which closed was one at Fairacres Retail Park in Abingdon, which closed early last year after a rescue effort failed.
Spanning 23,800 sq ft, the store opened in a new unit alongside Lidl and Costa Coffee back in 2021.
Reacting to the impending closure back in 2024, staff at the store told this newspaper that they were “gutted” to be losing jobs.
A member of staff at the Abingdon store said: “As far as we know, the Homebase in Cowley has been rescued, but we haven’t – it looks like this one is going to close.
“There are 18 staff who work here, and we’re all gutted.
“This Homebase only opened in 2021 – it’s a brand new store, so it doesn’t make sense to close it.”
The store did indeed close in February 2025, and fellow Oxfordshire stores in both Banbury and Oxford closed before the company went into administration.
Gavin Park, Gavin Maher and Adele MacLeod, of Teneo Financial Advisory, were appointed as joint administrators.
The administrators said: “These losses are attributed to a number of factors affecting retail and the DIY sector, including a decline in consumer confidence and spending, high cost inflation, high interest rates, expensive freight costs, shipping delays and poor weather, particularly through the peak spring and summer seasons.”
The business, including 70 stores and intellectual property, was sold to CDS (Superstores International) Limited, owned by retail magnate Chris Dawson and trading as The Range and Wilko for £25.6m.
As part of the transaction, 1,150 employees were transferred to the new owner in November 2024, and the remaining stores ceased trading in March 2025.
Administrators said about 2,300 employee claims totalling £938,000 were expected.
Wells Fargo Capital was owed £20.1m, which was repaid in full repaid, and Ark Finco was owed £80m.
So far, payments totalling £57.5m have been made to Ark Finco, which “made a portion of the distributions due to it under its security available to employees who had been made redundant because of the company’s administration”.
Administrators received an HMRC claim for £10.2m for unpaid PAYE and employee national insurance contributions.
The company received 1,299 claims from unsecured creditors for a total of £693m, made up mainly of one unsecured claim submitted by Ark Finco for £523m.
Business & Technology
Thames Travel hosting bus driver recruitment days in Oxford
The events will take place in June and are open to anyone interested in a career behind the wheel.
Full-time and part-time positions are available at Thames Travel’s Didcot base, and attendees will have the chance to learn about a £4,000 bonus scheme for existing PCV licence holders.
Luke Marion, managing director of Thames Travel, said: “We’re looking for candidates with excellent customer service skills and strong communication abilities to join our driving team.
“Bus driving is a hugely rewarding career where every day is different.
“New colleagues will enjoy a paid, comprehensive training programme with experienced instructors and stable, long-term employment at a competitive rate of pay.”
The recruitment days will be held from 10am to 3pm on June 14 and June 28.
Visitors can meet management, ask questions and fast-track their application.
Candidates must have a valid manual driving licence, held for more than 12 months.
No previous bus driving experience is necessary.
To take part in a full assessment, attendees must bring their current UK photocard driving licence and proof of eligibility to work in the UK.
Mr Marion said: “Many of our trainees join from different backgrounds, and no previous bus driving experience is required.
“These events are for anyone wishing to join our team, whether you’re a trainee or a PCV licence holder.”
Additional benefits include free travel on all Thames Travel, Oxford Bus Company and Carousel Buses services, discounts at shops, cinemas and health clubs, and a refer-a-friend scheme.
Business & Technology
Bicester AI firm PhysicsX becomes multi‑billion business
PhysicsX, which began life at Bicester Motion, recently secured a $300m (£223.9m) investment to support its expansion. In 2025, PhysicsX was valued at $1bn (£740m).
Founded by Robin Tuluie, the firm first set up operations in 2021 in a small office inside the Station Armoury at Bicester Motion before moving to the Gas Defence Centre as the team grew.
The company now employs more than 300 people and is based in London and New York.
Mr Tuluie said: “High-fidelity physics simulation has always been powerful, but it has also been slow, costly, and the preserve of a small group of specialists.
“Physics AI changes that in every dimension.”
The AI-driven engineering company uses artificial intelligence to support simulation and modelling.
Its approach helps improve speed, efficiency, and accessibility.
Mr Tuluie said the company’s technology is about broadening access to advanced tools.
He said: “We believe in the democratisation of this technology to broad technical profiles across an industrial organisation — engineers, designers, and operators who previously couldn’t run these analyses themselves.
“As that capability spreads, its utility compounds across the business.
“That’s the change we’re driving.”
PhysicsX began as a small venture at Bicester Motion and is now one of the UK’s biggest exponents of artificial intelligence.
Its recent investment is expected to accelerate its global growth.
Business & Technology
Faringdon refill shop marks four years of low-waste living
Tribe Zero-Waste, based in Faringdon, Oxfordshire, has kept nearly two tonnes of plastic out of circulation since opening its doors in June 2022.
The business, founded by Katie Herring in 2018, began as a pop-up and now occupies a permanent retail space thanks to support from Oxford City Council and the Meanwhile in Oxfordshire scheme run by Makespace Oxford.
Ms Herring said: “When I started Tribe as a market stall, I really had no idea where it would lead, I just hoped it would make a difference and help those who wanted to shop more sustainably.
“I’m constantly blown away by the response from our local community and these numbers belong to them as much as to us.
“Every person who has filled a bottle or bought their oats loose here is part of this and it just shows how much more we can achieve together.
“It’s a tough time for high street retail but the fact we are still here four years on shows the passion of our community to shop in a way that helps our planet.”
Since opening in 2022, the shop has helped divert 1,769kg of plastic from waste through its refill and packaging-free product model.
Customers have avoided the use of more than 37,000 plastic bottles and containers, and more than 59,600 bags and boxes, by opting for refills and loose goods.
The savings include 425kg of plastic from dairy products packaged in returnable glass containers, sourced from Berkeley Farm organic dairy in Wroughton.
To mark the anniversary, Ms Herring and her team invited customers to enjoy a slice of plastic-free birthday cake made by Faringdon baker Flour and Fold.
The celebration also coincided with Great Big Green Week, a national campaign running from June 6 to 14 that highlights community efforts to tackle climate change.
Ms Herring attended Faringdon’s Big Green Day at the Corn Exchange, where she spoke with residents about the environmental impact of choosing reusable and packaging-free options.
Her inspiration for the business came after meeting the founders of Oxford’s SESI, which supplies refillable household cleaning products.
Tribe Zero-Waste began as a monthly pop-up in Wantage with just 20 products on a table at The Mix, a community space.
After four years of pop-ups, markets, and a delivery service—especially during Covid—the business opened its first shop in Faringdon in June 2022.
Demand quickly outgrew the original site, prompting a move to a larger unit in the town marketplace.
The shop now stocks a wide range of refillable household and personal care items, plastic-free foods, and locally sourced products.
It also offers a fortnightly delivery service across Oxford, Faringdon, and the Vale of White Horse, as well as national shipping.
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