Homebase Collapses Into Administration

Homebase has collapsed into administration, putting around 2,000 jobs at risk.

Owner of homeware retailer The Range is buying 75 of the DIY chain’s stores – and the brand – but the deal does not include 49 others.

It is not yet known if the Homebase store in Market Harborough is included in the sale, as further details have not yet been disclosed.

Homebase on the Springfield Retail Park in Market Harborough

The rescue deal by The Range owners CDS Superstores has safeguarded around 1,600 jobs.

Homebase owner Hilco had been looking to sell the struggling retailer, but has not managed to find an outright buyer.

Administrators say the stores not included in the sale will continue to trade while a search continues for a buyer.

Damian McGloughlin, CEO of Homebase, said: “It has been an incredibly challenging three years for the home and garden improvement market.

“A decline in consumer confidence and spending following the pandemic has been exacerbated by the impact of persistent high inflation, global supply chain issues and unseasonable weather.

“Against this backdrop, we have taken many and wide-ranging actions to improve trading performance including restructuring the business and seeking fresh investment.

“These efforts have not been successful and today we have made the difficult decision to appoint administrators.”