Kbb News -Kitchens- Following the news in November that DIY retailer Homebase was entering administration, and up to 70 of its stores were to be acquired by CDS Superstores, the parent company behind The Range and Wilko, it has now been announced that three more Homebase stores that were facing closure, have been saved by B&Q.
The move, which is reportedly worth £3.2m, will see the three former Homebase stores in Letterkenny, Navan and Waterford in the Republic of Ireland, join B&Q’s existing network of eight Republic of Ireland stores.
B&Q chief executive, Graham Bell, commented: “We’re delighted to be adding these three stores to our fantastic store network. We’re determined to give home improvers the choice and convenience they deserve, and these locations need a home improvement store that fulfils their need."
“We look forward to swiftly concluding the purchase and converting the stores to the B&Q brand and offer, and to welcoming our new customers to the stores and new colleagues to the B&Q family.”
The deal for the three Homebase stores saved by B&Q, which is worth £3.2m, will see the former Homebase stores in Letterkenny, Navan and Waterford join B&Q’s eight existing RoI stores, with staff being transferred across.
According to B&Q, it expects to convert the first of the three stores into a B&Q location in the first half of 2025, with all three stores converted by the end of 2025.
CDS Superstores acquisition for 70 Homebase stores
Although the CDS Superstores acquisition for 70 Homebase stores, the parent company behind The Range and Wilko was estimated to have saved around 1,600 former Homebase roles, around 55 stores were still set to close, with up to 2,000 employees facing redundancy so the news of three more Homebase stores being saved by B&Q with those employees all expected to move across to B&Q will no doubt be of comfort for those wortking in the Letterkenny, Navan and Waterford stores.
CDS Superstores recently outlined plans to open the first three converted former Homebase outlets by the end of January as Range Superstores and also said that it plans to open a further 10 stores each month starting from February 2025.
There is still uncertainly surrounding the remaining 52 Homebase stores not yet acquired which is believed to affect some 1800 Homebase employees.
According to administrators Teneo, they said in November that there will not be any immediate redundancies at Homebase and that employees’ wages and benefits would continue in the interim, whilst the remaining stores are also sought new ownership.
How long that 'interim' period is however, has not been established.
Other Homebase News - CDS Superstores acquisition for 70 Homebase stores / Homebase Up for Sale Again / Homebase to Sell Bosch and Neff / Homebase Acquires Bathstore / Homebase Rescue Plan Approved / Wesfarmers Acquires homebase for £340m
