Potential buyers are said to be interested in parts of the DIY giant's 130 stores
DIY and homeware store Homebase could be heading for a partial collapse, putting thousands of jobs at risk. The news comes amid reports the chain has appointed insolvency experts. Potential buyers are also said to be interested in parts of the DIY giant's 130-store estate. Insolvency practitioners at Teneo consultancy are reportedly being lined up by Homebase, which could then see the business placed into administration.
But the retail chain has struggled as customers cut back on spending amid the cost-of-living crisis, and reported an £84.2 million loss last year. In August, Sainsbury’s struck a deal to buy 10 Homebase stores and convert them into supermarkets. Homebase declined to comment, while Teneo and The Range have been contacted for comment. It comes after a hunt for a buyer from Homebase’s current owners which is thought to have lasted for the last two months.
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