Homebase 'set for administration' as thousands of jobs at risk - The Range could save 70 stores

Alex Daniel PA Business Reporter & Chris Ballinger
·2-min read
A general view of a Homebase store in Surrey
-Credit: (Image: Steve Parsons/PA)


Homebase could be on the brink of a partial collapse, putting thousands of jobs in jeopardy. Reports suggest that the chain has enlisted insolvency experts, with a potential buyer for parts of its 130-store estate also showing interest.

The DIY retailer is said to be preparing insolvency practitioners at Teneo consultancy, which could result in administration. Retail tycoon Chris Dawson, owner of The Range homeware outlets, is reportedly considering a last-minute rescue deal that could see him acquire up to 70 Homebase stores.

If this buyout goes ahead, it could potentially save around 1,500 jobs, but leaves at least 1,700 others uncertain, as reported by Sky News. Homebase was purchased for £1 by investment firm Hilco Capital, which has since implemented numerous cost-cutting measures.

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However, the retail chain has faced difficulties as customers reduce spending amidst the cost-of-living crisis, reporting an £84.2 million loss last year. In August, Sainsbury’s agreed to purchase 10 Homebase stores and convert them into supermarkets.

Homebase declined to comment, while Teneo and The Range have been contacted for comment. This follows a two-month search for a buyer by Homebase’s current owners. Mr Dawson is also negotiating to purchase Homebase’s 40 year old brand and its website, in a deal estimated to cost about £30 million.

The entrepreneur behind CDS Superstores, the parent company of The Range, has acquired sections of high street chain Wilko following its collapse last year. Speaking to the Telegraph newspaper, he expressed his enthusiasm: "We are delighted to be able to save so many stores and jobs, and look forward to adding the Homebase brand and subsidiaries to the expanding Range group of companies."

Known for selling homeware and DIY products, The Range operates from over 200 stores across the UK.

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