Homebase Has Gone Into Administration

Homebase, the hardware and home improvement retailer has gone into administration with Teneo,

It has been reported that The Range, the privately owned general merchandise retailer, are near to closing in on a rescue deal, via a pre pack deal which would save approximately 1,500 jobs for Homebase. The Range has become one of the fastest-growing retailers in the UK, founded in 1989 and now has 210 stores to its name, across the country.

There was also interest received from other DIY rivals, discount food retailers and high street brands, as per sources. Hilco have been working on this sale for a few months now, with hope something will come to fruition.

Such a deal would end the six years of ownership from Hilco. Back in 2018 Hilco rescued Homebase from trouble via a Company Voluntary Arrangement process – so this is of course not the first time Homebase have been in difficulty. 

The DIY market has been facing headwinds from the cost of living crisis and recent uncertainty about the economy.