The struggling DIY chain Homebase has collapsed into administration, leaving thousands of workers facing an uncertain future, despite the purchase of the bulk of its stores by the owner of The Range homeware retailer.
Gavin Park, Gavin Maher and Adele Macleod from the financial advisory firm Teneo were appointed as joint administrators of Homebase’s owners, HHGL Limited and Hampden Group Limited.
The owner of The Range and Wilko, CDS Superstores, has bought 70 of Homebase’s stores, saving up to 1,600 jobs, as well as the brand and intellectual property.
The Homebase brand will continue to trade online, while the stores bought by CDS will continue to trade until they are handed over, at which point they will be rebranded as The Range…
