Homebase owner considers sale amid interest from The Range
Homebase lost more than £40m in 2022, according to accounts filed at Companies House, however last year's performance is thought to be substantially better
Homebase owner Hilco Capital is reportedly considering a sale after it was approached from The Range for the DIY retailer, according to reports from Sky News.
A formal sales process is set to commence in the coming days with other potential bidders involved.
Sources suggested that the interest from The Range may not necessarily lead to a deal but the company would want to acquire Homebase’s 140 stores if it does.
Hilco acquired Homebase following a disastrous spell under the ownership of Australian group Wesfarmers, which ran up losses in the hundreds of millions.
In the past, brands such as B&M European Value Retail have been touted as potential bidders for the brand.
In 2018, Homebase went through a company voluntary arrangement which closed a substantial number of stores.
Based in Devon, The Range is part of CDS Superstores, which is controlled by the businessman Chris Dawson.
Last year, it paid £7m to buy the brand and intellectual property assets of Wilko, which had collapsed into administration.
Homebase lost more than £40m in 2022, according to accounts filed at Companies House, however last year’s performance is thought to be substantially better.
Retail Sector has approached Homebase for comment.