Homebase in Derby holds huge closing down sale
A huge closing-down sale is being held at a DIY store in Derby after the company went into administration last year. Wyvern Retail Park's Homebase store in Derby is selling all the stock at a reduced price after administrators were appointed in November.
It comes after HHGL Limited and Hampden Group Limited, the Homebase operator, entered administration on November 13. A notice on the front of the Wyvern Homebase says Gavin Park, Gavin Maher and Adele Macleod, of Teneo Financial Advisory Limited, were appointed as joint administrators.
Immediately following the appointment, the joint administrators acting for Homebase completed a sale of up to 70 UK stores to CDS, the parent company of The Range, a sale which is expected to secure up to 1,600 jobs. Homebase said it would continue to trade until handed over to CDS.
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Following the announcement in November, Damian McGloughlin, chief executive of Homebase, said: "It has been an incredibly challenging three years for the home and garden improvement market. A decline in consumer confidence and spending following the pandemic has been exacerbated by the impact of persistent high inflation, global supply chain issues and unseasonable weather.
"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.
"My priority is and continues to be our team members, and I recognise that this news will be unsettling for them. The sale of up to 70 UK stores to CDS is expected to protect up to 1,600 jobs, and the remaining 49 UK stores will continue to trade normally while the administrators complete discussions with potential buyers. I want to thank our team members and supplier partners from the bottom of my heart for their hard work and commitment over many years."
Bright yellow and red signs have appeared at the front of the Wyvern store saying there is "at least 50 percent off" everything in the store. Another sign says that some items are reduced by as much as 90 percent.
Derbyshire Live asked Homebase for a comment after the signs were noticed by shoppers, with a spokesperson stating: "All of our stores are continuing to trade, including stores acquired by CDS. From January 2025, Homebase will transfer around 10 stores each month to CDS which will be relaunched as The Range superstores.
"Talks with prospective buyers for the remainder of the stores are progressing." No closing date has been confirmed for the store as of Friday, January 17. The future of the Homebase in Ashbourne is yet to be officially confirmed.