Wilko and The Range owner saves 70 Homebase stores

Following reports that DIY retailer Homebase was entering administration, the business and up to 70 of its stores have been acquired by CDS Superstores, the parent company behind The Range and Wilko.

Announcing the news, Alex Simpkin, group CEO of CDS, 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 continues to seek opportunities to expand its growing portfolio and omni-channel offer.”

However, despite the good news, around 2,000 Homebase roles and around 50 stores are still be in danger if a buyer is not found for the remaining retail locations. Administrators Teneo have said that they are still in talks with interested parties to buy the remainder of the stores.

According to administrators, there will not be any immediate redundancies at Homebase, and also said they would continue to pay employees’ wages and benefits while they were still working for the company.

CDS was also behind the recent acquisition of high street retailer Wilko, which has recently taken steps into the KBB market with the launch of its first-ever kitchen range.

Home > News > Wilko and The Range owner saves 70 Homebase stores