Displaying items by tag: Homebase

DIY retailer Homebase has entered administration, putting 2,000 jobs at risk. Its owner had hoped to sell the struggling retailer but failed to secure a buyer. The Range has purchased up to 75 Homebase stores and the brand, saving approximately 1,600 jobs, but 49 stores remain unsold. The administrators are continuing to seek a buyer for these locations; no immediate redundancies have been announced, and the stores will continue trading for now. The firm’s collapse follows years of financial difficulties, exacerbated by a decline in consumer spending after the pandemic, persistent inflation, supply chain disruptions, inability to match the price and quality of competitors, and unseasonably poor weather. Losses totalled £84.2 million last year, and despite efforts to restructure and secure investment, the company’s financial struggles persisted. The situation reflects broader trends in the home improvement sector, where high inflation and consumer caution have hit sales.