A trio of major high street giants, Marks and Spencer, Kingfisher – the owner of B&Q, and discount titan Home Bargains are reportedly circling to snap up dozens of Homebase stores following its fall into administration earlier this month. According to Sky News, the two former companies are believed to be preparing bids for between 20 and 25 Homebase outlets, although it remains unclear which specific stores could be rescued.
Home Bargains is also said to be considering taking on a handful of Homebase sites. The home improvement and DIY chain’s collapse into administration has put 74 stores and approximately 2,000 jobs in jeopardy.
The deadline for bids is today. Earlier this month, CDS (Superstores) International, the parent company of The Range and Wilko, acquired the Homebase brand, IP, and up to 70 stores, leaving around 50 stores remaining.
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All these stores are set to undergo a rebranding as The Range shops, with about 1,600 Homebase employees being taken on by The Range. In August, Sainsbury’s purchased 10 Homebase stores, with the deal finalised in September.
These new locations are expected to open their doors by summer 2025. Sainsbury’s stated that the deal, which includes the redesign of the new stores, would cost them a total of £130million, reports the Mirror.
Hilco Capital, the firm that snapped up Homebase for a mere quid in 2018, called in administrators Teneo earlier this year after racking an £84 million loss for the year ending January 2023.
Homebase’s boss, Damian McGloughlin, said at the time: “It has been an incredibly challenging three years for the home and garden improvement market. My priority is and continues to be our team members, and I recognise that this news will be unsettling for them.”
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