Homebase faces administration as future of Chester store in doubt

Chiara Fiorillo & Gary Porter
·2-min read
-Credit: (Image: Google Street View)
-Credit: (Image: Google Street View)


DIY retailer Homebase is set to collapse into administration with 130 shops facing the risk of closure. The chain - which has a branch on the Greyhound Retail Park in Chester - is said to be preparing to appoint administrators.

The Chester site opened at the former John Lewis store back in May 2022. Homebase said at the time that 29 jobs were created in the local area as a result of the opening, including five team members with over 40 years of experience at the DIY chain.

According to reports, Homebase is preparing to line up Teneo to handle an insolvency process for its UK operation. Over the summer, it emerged that Homebase owner Hilco Capital, which took control of the chain in 2018, was due to initiate a formal process to sell the chain - with The Range making an offer to purchase the retailer, but the talks didn't lead to a sale.

READ MORE: Recap: Emergency services at two Chester collisions

READ MORE: London woman makes 10-hour round trip just to visit Cheshire's Hollies Farm Shop

Founded in 1989 by Chris Dawson, The Range has become one of the fastest-growing retailers in the UK, with over 210 stores across the country. The Range also purchased Wilko's name and intellectual property last year after the chain collapsed into administration, The Mirror reports.

Homebase operated as a subsidiary under the Home Retail Group from October 2006 until 2016 and was bought by Australian retailer Wesfarmers in 2016. Just two years later, the retailer reported losses of worth £57 million in relation to the takeover. In May 2018, Homebase was bought by Hilco for just £1.

In 2018, Homebase went through a company voluntary arrangement and closed over 100 stores which led to 1,500 job losses. Homebase lost more than £40 million in 2022, according to accounts filed at Companies House, although last year's performance is believed to have been significantly better.

In August this year, Homebase managing director Damian McGloughlin wrote to suppliers saying it was trading "behind where we planned to be" and would begin an "active sale process" to seek new investment. According to The Times, Homebase has had discussions with a number of parties in addition to The Range, including BandM European Value Retail and Kingfisher, about a deal - but didn't reach one.

Our sister paper The Mirror has contacted Homebase and Hilco Capital for comment.

NEWSLETTER: Sign up for CheshireLive email direct to your inbox here

Latest stories

  • HMRC issues warning for all savers about £10,000 limit

    A taxpayer contacted the authority to ask if they would need to fill in a form for going over the threshold for dividends or savings and interest

  • Warren Buffett just sold 19% of this top growth stock! Should I be worried?

    Over the past few quarters, Warren Buffett has been dumping stocks, including one impressive growth stock owned by this Fool. The post Warren Buffett just sold 19% of this top growth stock! Should I be worried? appeared first on The Motley Fool UK.

  • 40,730 shares of this FTSE stock unlock a £500 monthly second income

    This FTSE stock’s been tumbling for years, but dividends have stayed in place, opening the door to a 10.4%-yielding second income stream. The post 40,730 shares of this FTSE stock unlock a £500 monthly second income appeared first on The Motley Fool UK.

  • Investors dump French debt as political crisis grows

    Investors are dumping French debt in favour of Spanish and even Italian bonds as the deepening political crisis in Paris scares off money managers.

  • London hit by cheap takeover ‘disease’ again

    London’s stock market is suffering from a “disease” that makes it more attractive to be private, a senior fund manager has warned.

  • This under-the-radar FTSE stock is set to print money in 2025

    FTSE 100 and FTSE 250 stocks get a lot of attention. But looking beyond the familiar names can potentially bring big rewards for investors. The post This under-the-radar FTSE stock is set to print money in 2025 appeared first on The Motley Fool UK.

  • If I’d invested £10,000 in an S&P 500 index tracker in 2009, this is how much I would have today!

    As the S&P 500 continues to make new highs throughout 2024, Andrew Mackie assesses whether he should invest solely in an index tracker. The post If I’d invested £10,000 in an S&P 500 index tracker in 2009, this is how much I would have today! appeared first on The Motley Fool UK.

  • 2 top FTSE 100 shares to consider for a Stocks and Shares ISA in 2025

    Our writer picks a pair of Footsie shares from his Stocks and Shares ISA that he reckons look attractive heading into the New Year. The post 2 top FTSE 100 shares to consider for a Stocks and Shares ISA in 2025 appeared first on The Motley Fool UK.

  • Is this penny stock worth considering at 69p?

    This penny stock's up 140% in the last five years, but is it still worth considering based on its long-term growth potential? Zaven Boyrazian investigates. The post Is this penny stock worth considering at 69p? appeared first on The Motley Fool UK.

  • The PayPal Mafia includes tech titans like Elon Musk, Peter Thiel, and Reid Hoffman. Here's where its members are now.

    PayPal mafia members Elon Musk, Peter Thiel, and Reid Hoffman went from working at the startup in the early 2000s to running their own ventures.

  • Has this 6% yielding penny share fallen too far?

    After a testy few days for a penny share our writer holds, he revisits the investment case and weighs management claims that the business is doing well. The post Has this 6% yielding penny share fallen too far? appeared first on The Motley Fool UK.

  • Saudi Arabia cuts oil prices after OPEC+ delays reviving output

    (Bloomberg) -- Saudi Arabia is cutting oil prices for buyers in Asia by more than expected after OPEC+ further delayed an output revival, underscoring how the outlook for the market remains weak.Most Read from BloombergA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitState oil producer Saudi Aramco will sell its main Arab Light crude grade at

  • Why Is HSBC Holdings plc (HSBC) Among the Best Bank Stocks to Invest In Now?

    We recently compiled a list of the 10 Best Bank Stocks With High Dividends. In this article, we are going to take a look at where HSBC Holdings plc (NYSE:HSBC) stands against the other bank stocks. In 2023, the US banking industry took a major hit, as Silicon Valley Bank collapsed, followed by the downfall of […]

  • Close to £6, can the Rolls-Royce share price still offer any value?

    Having traded for under 40p in 2020, the Rolls-Royce share price this week sat closer to £6. Does our writer think it can keep gaining altitude? The post Close to £6, can the Rolls-Royce share price still offer any value? appeared first on The Motley Fool UK.

  • 10,428 shares of this UK stock generates £1,000 passive income

    Taylor Wimpey shares currently have an impressive 7.3% yield that's capable of generating a lucrative passive income. But is this sustainable? The post 10,428 shares of this UK stock generates £1,000 passive income appeared first on The Motley Fool UK.

  • Which Warren Buffett stocks should investors consider buying in December?

    Warren Buffett has a lot of high-quality stocks in his portfolio, so should investors follow in his footsteps, or could that be a critical error? The post Which Warren Buffett stocks should investors consider buying in December? appeared first on The Motley Fool UK.

  • I aim for a million buying just 10 or so shares!

    Rather than investing in dozens of different companies, our writer is focussing on finding a few great ones to help him aim for a million. The post I aim for a million buying just 10 or so shares! appeared first on The Motley Fool UK.

  • Here are 2 potentially top UK shares to consider buying before 2025

    More double-digit growth from UK shares could be just around the corner, especially for these two cheap-looking, high-quality stocks. The post Here are 2 potentially top UK shares to consider buying before 2025 appeared first on The Motley Fool UK.

  • 3 passive income mistakes to avoid

    The stock market’s a great place to look for passive income opportunities. But an important part of investing is figuring out which stocks to buy. The post 3 passive income mistakes to avoid appeared first on The Motley Fool UK.

  • Canada Pressured to Respond to Trump’s Tax Cut Regime

    (Bloomberg) -- Donald Trump’s planned tax cuts would wipe out Canada’s slim corporate tax advantage, likely driving more capital from the northern nation and deepening its productivity crisis. Most Read from BloombergA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitCanada’s federal corporate income tax rate is 15%, compared with 21% in the US.