Homebase insolvent, the majority of stores sold

The British DIY chain Homebase has slipped into insolvency. Teneo Financial Advisory Limited was appointed as insolvency administrator last Wednesday, 13 November 2024. The parent company of retail chains The Range and Wilko, CDS Superstores, has taken over the brand rights for up to 70 stores. Teneo is still looking for a buyer for the remaining 49 stores. They are to remain open for the time being. At the end of 2023, Homebase still had 138 stores.

The locations that have now been acquired will be converted to The Range brand. Online sales will continue under the Homebase brand. In addition to the BBC, numerous newspapers are reporting on this. Homebase was previously owned by the investment company Hilco, which acquired it in 2018 for GBP 1 from the Australian Wesfarmers Group, parent company of the home improvement chain Bunnings.