OVER a dozen more Homebase stores have been rescued by the owner of The Range, The Sun can reveal.
The DIY chain entered administration in November but was partially rescued by billionaire Chris Dawson, owner of CDS Superstores, the parent company of The Range and Wilko.
The Sun can reveal that The Range’s owner has acquired an additional 14 sites[/caption]
Dawson’s intervention aimed to preserve “up to” 70 stores, safeguard 1,600 jobs, and retain the Homebase brand.
However, this left 74 branches and approximately 2,000 employees facing an uncertain future.
Just a week later, Teneo, the administrators for Homebase, placed the 74 stores up for sale.
Analysis by The Sun at the time revealed that just 57 stores were excluded from the sale listing, suggesting they could have been part of CDS’s rescue plan.
To date, however, CDS has only confirmed the rescue of 12 stores, leaving the exact number of saved locations unclear.
Now, The Sun can reveal that The Range’s owner has acquired an additional 14 sites, some of which have already reopened under new branding in the last eight days.
Former Homebase stores in Ashbourne, East Dereham, and Staines reopened under The Range banner on February 14.
On Friday (February 21), three more stores in Bicester, Huntingdon, and Reigate reopened their doors as The Range.
A further eight stores are set to reopen between February 28 and March 21.
Ex-Homebase sites in Eastbourne, Oxford, and Morecambe will welcome shoppers again on 28 February.
These will be followed by stores in High Wycombe, Selby, and Bodmin on March 7.
Finally, Homebase locations in Edinburgh (Craigleith) and Horsham will reopen under The Range branding on March 21.
Once these additional stores reopen, the total number of former Homebase locations confirmed as acquired by The Range will rise to 26.
In January, Homebase closed 20 stores, seven of which had already been acquired by supermarket giant Sainsbury’s in August 2024.
A further 34 stores are due to close by the end of February, including two purchased by Sainsbury’s last year in Glenrothes and Inverurie.
Last month, B&Q agreed to buy five of the chain’s branches that were for sale.
Currently, 26 Homebase stores remain on the market, while the future of another 30 stores that were never listed for sale remains uncertain.
What is happening to the stores bought by CDS?
CDS Superstores previously said it would buy “up to 70” Homebase shops.
It has also taken on the Homebase brand and relaunched its website with thousands of products up for sale.
It is in the process of re-purposing and opening some of the former Homebase stores under its The Range brand.
The new stores feature products usually found in The Range but some contain “Garden Centres by Homebase”.
Others locations feature “Kitchens by Homebase” spaces.
CDS Superstores has announced its ambition to open three new stores per week in the coming months, with plans to launch at least 50 locations by the end of April.
Pictures of one of the new stores in Bournemouth were revealed when it opened in January.
CDS said the move to take on “up to 70” Homebase sites would see 1,600 staff keep their jobs.
HISTORY OF HOMEBASE
- 1979: Homebase was founded by the supermarket chain Sainsbury’s and Belgian retailer GB-Inno-BM
- April 1981: The first store opened in Croydon
- October 1981: The second store opened in Leeds
- 1989: Homebase opened its 50th store in Norwich
- 1995: The chain boasted 82 stores and Sainsbury’s acquired all 241 Texas Homecare stores
- 1996-1999: All Texas Homecare stores were converted into the Homebase format
- 2001: Sainsbury’s sells Homebase but retains a 17.3% minority stake until 2002
- 2006: Homebase operated as a subsidiary under the Home Retail Group from October 2006 until 2016
- February 2016: Australian retailer Wesfarmers owner of the Bunnings brand, purchased Homebase for £340million
- February 2018: Wesfarmers reported losses relating to the takeover of £57million in the year to June 2017, and soon decided to implement a review of the business
- May 2018: Hilco bought the hardware store chain for just £1
- 2018-2024: Homebase has closed 106 stores since it was taken over by Hilco Capital
Why are DIY chains struggling?
It has been a tricky time for home improvement chains, both large and small.
It comes as shoppers have been cutting back on spending following the pandemic.
Plus, the recent turmoil in the housing market has meant that homeowners aren’t as focused on DIY projects as they once were.
In the spring, Kingfisher, which owns B&Q and Screwfix, revealed that annual profits had slumped by more than a quarter.
The company reported a 25.1% drop in underlying pre-tax profits to £568million for the year to January 31, 2024.
Window and door specialist Everest called in administrators in April, leaving customers in the dark about their orders.
Last year, the group had previously cautioned profits would slip after a 36% drop in pre-tax profits from £1billion to £611million in the 12 months to January 2023.
Rival Wickes also reported a 31% fall in profits to £52million on flat revenues of £1.55billion for 2023.
Windows and doors company Safestyle collapsed into administration in October last year.
The company has a manufacturing site in Wombwell, near Barnsley and 42 sales branches and depots across the country.
Flooring retailer Tapi recently struck a multimillion-pound rescue deal to save the Carpetright brand and dozens of stores last month.
Tapi purchased 54 of the chain’s stores and two warehouses in a pre-pack administration deal that saved 300 jobs.
However, the deal did not include 200 other stores which all closed their doors.
