The Range Set to Acquire Homebase Stores

The Range, a Devon-based retailer, is nearing a deal to acquire a significant portion of Homebase through a pre-packaged administration process, potentially saving around 1,500 jobs. The acquisition will include up to 75 Homebase stores, encompassing all Irish locations, as well as the brand and ecommerce operations. However, this deal casts uncertainty over the future of approximately 1,700 employees at nearly 50 remaining stores that will be put up for sale. This move comes amid broader challenges facing the UK retail sector, exacerbated by rising costs and declining consumer spending. The sale signals the end of Homebase's six-year ownership under Hilco, following its troubled period under the Australian group Wesfarmers. The Range's strategy of growth through acquisitions positions it to leverage Homebase's established presence in the DIY market.