Kingfisher and M&S eye Homebase stores - Retail Gazette
Kingfisher and M&S are looking to buy the remaining Homebase stores, just a month after the DIY chain went into administration.
According to Sky News, the deadline for submitting offers is today, November 29. Kingfisher and M&S are planning to make bids for around 20 to 25 locations, which could potentially safeguard hundreds of jobs.
The publication reported that it's not clear whether this total reflects the overall number or just the amount of stores each retailer is looking at.
It's believed that discount retailer Home Bargains has shown interest in acquiring a few select stores.
Earlier this month, CDS (Superstores) International, which owns The Range and Wilko, acquired the Homebase brand, its intellectual property, and nearly 70 of its stores. This move puts around 50 additional stores and about 2,000 jobs in jeopardy.
Hilco Capital, the company that acquired Homebase for just £1 in 2018, brought in Teneo this year to consider various ways to cut costs. This move comes after the retailer posted an £84 million loss for the year ending January 2023, a significant decline from the £30 million profit it saw the previous year.
Sales dropped significantly from £788 million to £701 million during that time.
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