Kingfisher and M&S have expressed interest in acquiring the remaining Homebase stores, potentially saving jobs.
- The deadline for offers is today, with plans to submit bids for between 20 and 25 sites.
- The exact number of stores each retailer is considering remains unclear, according to sources.
- Home Bargains has also shown interest in a smaller number of stores amidst the acquisition talks.
- Homebase, recently in administration, has left around 50 stores and 2,000 jobs at risk after previous acquisitions.
Kingfisher and Marks & Spencer are considering a strategic move to acquire Homebase stores, as they aim to submit offers today. This comes after Homebase entered administration, leaving many jobs and stores at stake. With the potential purchase of up to 25 sites, this acquisition could prevent the loss of hundreds of jobs.
Although the intention is set, the precise number of stores each company seeks to acquire remains uncertain. The original report from the outlet suggested a purchase interest in ‘between 20 and 25 sites’, leaving room for speculation on how many each retailer might individually target.
Adding another layer of interest, Home Bargains, a discount retail giant, is reported to be keen on acquiring a small portion of the available stores. This increases the competition and complexity of the acquisition process for the remaining Homebase outlets.
Previously, CDS (Superstores) International, known for controlling The Range and Wilko, had acquired the Homebase brand, intellectual property, and up to 70 stores, which left around 50 stores on the market. These stores, alongside approximately 2,000 jobs, now hang in the balance, awaiting new ownership offers.
Hilco Capital, which purchased Homebase for a symbolic £1 in 2018, enlisted Teneo to explore financial rescue plans following an £84m loss reported up to January 2023. This was a sharp contrast to the £30m profit a year earlier, compounded by a drop in sales from £788m to £701m.
The situation surrounding Homebase’s future remains fluid, with key retail players poised to make significant acquisitions today.
