Two of the UK’s biggest retailers are among the names circling a number of Homebase stores following the DIY retailer’s collapse into administration just weeks ago.
Marks & Spencer and B&Q and Screwfix-owner Kingfisher have expressed an interest in taking over between 20 and 25 Homebase stores each, according to a report by Sky News.
The two retail giants are said to be preparing offers for bundles of Homebase’s remaining 49 stores ahead of the deadline for offers on Friday.
Home Bargains are also said to be in the mix to acquire a small number of sites.
The potential deal presents the possibility that hundreds of jobs could be saved and follows a deal made with The Range-owner CDS Superstores, which saw the discounter bag Homebase’s brand name, intellectual property, and up to 70 of its UK stores.
Homebase recently sold 11 UK stores to Sainsbury’s and exchanged on a further three, and according to Teneo the remaining 49 UK stores will continue to trade as normal whilst it continues “active discussions with interested parties.”
Earlier, Homebase boss Damian McGloughlin said: “It has been an incredibly challenging three years for the home and garden improvement market.
“A decline in consumer confidence and spending following the pandemic has been exacerbated by the impact of persistent high inflation, global supply chain issues and unseasonable weather.
“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 and today we have made the difficult decision to appoint administrators. My priority is and continues to be our team members, and I recognise that this news will be unsettling for them.
“The sale of up to 70 UK stores to CDS is expected to protect up to 1,600 jobs, and the remaining 49 UK stores will continue to trade as normal while the administrators complete discussions with potential buyers.
“I want to thank our team members and supplier partners from the bottom of my heart for their hard work and commitment over many years.”
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