DIY chain Homebase has secured almost 500 jobs as it successfully exited the examinership process today.

As previously announced, two of the chain's shops in Carlow and Castlebar will close with the loss of just over 50 jobs.

However, the 13 other shops in the chain will stay open.

The company said the remaining shops have been put on a more sustainable footing.

The group said in July that sales had fallen by over 30% since 2009.

It blamed the economic downturn and high rents for its difficulties.