Tuesday, December 3, 2024
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Arnold Homebase store future still in doubt despite rescue deal for 75 stores

75 of the 130 stores have been snapped up by the saviour of Wilko in a so-called pre-pack deal.

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The Homebase store in Daybrook remains at risk of closure after the retailer’s owners called in administrators.

75 of the 130 stores have been snapped up by the saviour of Wilko in a so-called pre-pack deal.

The Range, also a general merchandise specialist, was confirmed as the buyer later in the day.

Homebase Daybrook
Purchased stores will be converted into Range sites

The purchased stores will be converted into Range sites.

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It is not yet known which sites have been saved.

Forty-nine other stores will continue to trade while alternative offers are explored.

Teneo, which is handling the Homebase sale process, is understood to have been working to find a buyer for as many of the chain’s sites as possible.

They said in a statement on yesterday that up to 70 stores were confirmed to be included in the deal – saving up to 1,600 jobs out of 3,600.

Homebase was bought for £1 by investment firm Hilco Capital, which has since brought in a swathe of cost-cutting measures. 

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But the retail chain has struggled as customers cut back on spending amid the cost-of-living crisis, and reported an £84.2 million loss last year. 

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