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Homebase Job Losses After Sale

Homebase faces major job losses after failed sale, with The Range acquiring a portion of the business through a pre-pack deal.

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English

United Kingdom

EconomyLabour MarketUkBusinessRetailAcquisitionJobs

HomebaseHilcoThe RangeTeneoWilko

Chris DawsonMark Kleinman

How long did Hilco own Homebase?: The pre-pack deal concludes Hilco's six-year ownership of Homebase. The deal allows The Range to selectively acquire desired assets of the company.
What is the main issue concerning Homebase?: Homebase, a DIY chain, is facing the risk of over 2,000 job losses after its owners, Hilco, initiated administration proceedings following an unsuccessful sale attempt.
What is Chris Dawson's connection to this situation?: Chris Dawson, owner of The Range, is known for his previous acquisition of Wilko's brand and intellectual property after its collapse into administration. He has since opened several new Wilko stores.
Who acquired a significant portion of Homebase's assets?: The Range, a general merchandise specialist, acquired 70 Homebase stores, saving around 1,600 jobs through a pre-pack deal. This deal also includes the Republic of Ireland stores, the Homebase brand, and e-commerce business.
What is the current status of the remaining Homebase stores?: Forty-nine Homebase stores will remain operational while potential buyers are explored for them. The retail sector is experiencing challenges due to increased tax burdens, higher inflation, and job losses.

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