CDS Superstores, owners of The Range and Wilko owner, have acquired the Homebase brand name, intellectual property, and up to 70 UK stores, as the DIY retailer goes into administration. It is believed that 2000 jobs will be at risk.
The brand will continue to trade online, and the stores acquired by CDS will continue to trade as Homebase over the coming months but, will re-open as The Range stores with a “much broader choice across garden, showroom and DIY categories”.
CDS Superstores group CEO Alex Simpkin said: “We plan to continue to invest in the Homebase brand, with many initiatives in the pipeline.”
Homebase chief executive Damian McGloughlin said the chain had struggled during the cost-of-living crisis, and this had been exacerbated by global supply chain problems and unseasonable weather.
“It has been an incredibly challenging three years for the home and garden improvement market,” he said. “Against this backdrop, we have taken many and wide-ranging actions to improve trading performance, including restructuring the business and seeking fresh investment. These efforts have not been successful.”
The CDS deal will save up to 1,600 jobs. However, the future remains uncertain for the around 2,000 workers at the DIY retailer’s other 49 stores, although the administrators hope to sell additional stores.
CDS’s acquisition follows it buying Wilko just over a year ago. It has since launched six Wilko stores with its seventh set to open in Uxbridge in west London week.
