Yahoo News Edinburgh Homebase store at risk of closure as firm confirms administration
Eight Homebase stores across Scotland are at risk of closure after the DIY retailer has been plunged into administration.
It was announced on November 13 the firm's owners Hilco appointed administrators at consultancy Teneo on Wednesday before CDS, which owns The Range homeware outlets, bought the majority of its stores out of administration.
Among the 49 shops, it has been reported Edinburgh's Homebase store in Craigleith retail park is also at risk.
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As the Record reports, Homebase was first founded in 1979 by Sainsbury's and GB-Inno-BM. It now operates 145 stores across the UK and Ireland, offering everything from homeware to DIY items.
Teneo said the remaining 49 UK stores will continue to trade as normal while administrators try to find a buyer.
The move will see the Homebase brand continue online, with physical shops converted into The Range stores. However, it has not been confirmed which stores have been bought over, leaving all eight Scottish branches at risk.
Damian McGloughlin, chief executive of Homebase, said the last three years had been “incredibly challenging” for DIY stores, blaming “a decline in consumer confidence and spending” after the pandemic.
“Against this backdrop, we have taken many and wide-ranging actions to improve trading performance including restructuring the business and seeking fresh investment.
“These efforts have not been successful and today we have made the difficult decision to appoint administrators.”
List of all Scots Homebase stores at risk of closure
Dumfries
Dunfermline
Edinburgh, Craigleith
Glasgow, Pollokshaws
Glenrothes
Hamilton
Inverurie
Oban
