Those stores will continue to trade while administrators Teneo look for a buyer, and there will be no immediate redundancies.
Along with up to 70 stores, Range owner CDS Superstores has also bought the brand name and intellectual property.
It is unclear whether those stores will remain branded as Homebase.
The location of the stores has yet to be disclosed.
Homebase chief executive Damian McGloughlin said the past three years had been “incredibly challenging” for DIY stores.
He said a “decline in consumer confidence and spending following the pandemic” and “persistent high inflation, global supply chain issues and unseasonable weather” had all had an impact.
McGloughlin said the business had restructured and sought investment, but “these efforts have not been successful”.
He added that staff would find the news of the collapse “unsettling”.
Source:
www.bbc.com
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