In sad news for the DIY sector, BHETA has learned that Homebase has appointed Teneo as administrators following an £84.2 million loss last year. Teneo, upon their appointment, promptly facilitated the sale of up to 70 Homebase stores across the UK, along with the brand and intellectual property, to CDS (Superstores International), which operates under The Range and Wilko brands. This sale is set to transfer up to 1,600 team members to CDS.Meanwhile, the remaining 49 UK stores and all Republic of Ireland locations will remain open as discussions continue with potential buyers. Hilco Capital, which acquired Homebase for £1 in 2018, had previously explored cost-cutting measures in response to cautious consumer spending.Will Jones, BHETA Chief Operating Officer said: "This is a very sad day for the DIY sector as a long established industry heavyweight brand files for administration. The retail sector has been challenging for a number of years, and we know that the team at Homebase explored every option to support the future of the business. The team running BHETA's Credit Forum will endeavor to help and advise any suppliers caught up in this challenging situation."
.jpg)
