Kbb News -Kitchens- Following news yesterday that DIY retailer Homebase was entering administration, it has now been confirmed that the Homebase business and up to 70 of its stores have been acquired by CDS Superstores, the parent company behind The Range and Wilko.
Whilst it was initially reported that Chris Dawson, owner of The Range and its parent CDS Superstores, was said to be finalising the pre-package deal to acquire as many as 75 Homebase stores in a deal worth around £30m, that 70 stores can be salvaged isnt far off the initial reports and will be a huge relief to those whose jobs will be saved, which is thought to be up to 1500.
This deal gives the Homebase name a reprieve from being banished into history and is hugely positive for the Kbb industry.
Even taking into account that the news isnt so optimistic for the future of some 1,700 additional employees at roughly 55 remaining stores that dont form part of Chris Dawson's plans and will therefore be put up for sale to other buyers as part of the Homebase administration process, that well over half of a national Kbb retailer is being salvaged is still a win.
However, according to administrators Teneo, they said 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.
Speaking about the news, Alex Simpkin, group CEO of CDS Superstores, said: “We’ve stepped in following the sad demise of the much-loved Homebase brand which has had a long and previously successful history of helping UK households with their DIY projects and gardening needs, for over 45-years.
“The Homebase brand will continue to trade online, and the acquired stores will continue to trade as Homebase over the coming months until they are transferred to CDS when they will quickly re-open as The Range superstores. These stores will include everything you’d expect from The Range, combined with much broader choice across garden, showroom and DIY categories – retaining the best of the Homebase expertise and heritage. We plan to continue to invest in the Homebase brand, with many initiatives in the pipeline.
“We’re expecting to secure up to 1,600 jobs, with Homebase team members joining the CDS family as part of the 70 store acquisitions. We’re conscious there will be a number of other experienced team members who are facing uncertainty, we’re committed to prioritising interviews for any vacant positions within our The Range and wilko brands across the country.
“As one of the UK’s fastest growing retailers, CDS Superstores continues to seek opportunities to expand its growing portfolio and omni-channel offer.”
The Range owner Chris Dawson opened the first Range store in 1989 and in recent years the business also stepped in to buy failing high street retailer Wilko in August 2023 so there are confident hopes that Dawson can get the deal over the line and save a lot of Homebase employees from redundancy.
The Range has over 200 outlets across the UK, selling everything from homewares to DIY products
Other Homebase News - Homebase Up for Sale Again / Homebase to Sell Bosch and Neff / Homebase Acquires Bathstore / Homebase Rescue Plan Approved / Wesfarmers Acquires homebase for £340m
