In 2018, Homebase was bought for £1 by investment firm Hilco Capital, but has struggled commercially ever since, with a reported an £84.2 million loss last year. Damian McGloughlin, Homebase CEO, said the last 3 years had been challenging for DIY stores, due to the decline in consumer confidence and spending after the pandemic. McGloughlin 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 financial advisory firm, Teneo has been appointed as joint administrators of Homebase’s owners, HHGL Limited and Hampden Group Limited.

After falling into administration, CDS Superstores, the owner of The Range and Wilko, acquired the Homebase brand name, intellectual property, and up to 70 UK stores. The CDS Superstores acquisition will reportedly save 1,600 jobs. The question remains, as to the 49 remaining stores which employ 1700 members of staff.

Earlier this year, Sainsbury’s bought 10 Homebase locations which are to be converted into supermarkets.

The Homebase brand name is to continue solely online, with (70) Homebase stores to re-open as The Range stores over the coming months.