Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Eight Homebase stores across Scotland are at risk of closure following the news of the warehouse chain's plunge into administration yesterday (November 13.
) The home improvement retailer was first founded in 1979 by Sainsbury's and GB-Inno-BM. It now operates 145 stores across the UK and Ireland, offering everything from homeware to DIY items . However, the firm's owners, Hilco, has officially appointed Teneo as its administrator, as it looks to sell the struggling the brand.
It means that 49 stores and 2,000 jobs are at risk, reports BBC News . Despite the collapse, it has been reported that CDS Superstores, owners of The Range and Wilko , has acquired 70 stores, the Homebase brand and its intellectual property, with 1,600 jobs being safeguarded by the move. The move will see the Homebase brand continue online, with physical shops converted into The Range stores.
However, it has not been confirmed which stores have been bought over, leaving all eight Scottish branches at risk. Homebase Chief Executive Damian McGloughlin, has said that the past three years had been "incredibly challenging" for DIY stores. He cited a decline in consumer confidence and spending during the pandemic, alongside supply issues, inflation rates and unseasonable weather as reasons for the collapse.
News of the firm's plunge into administration comes after it an.