CDS Superstores acquires Homebase brand and 70 stores as the DIY retailer collapses into administration

Homebase has collapsed into administration with 2,000 jobs put at risk, although the bulk of its stores are being acquired by the owner of The Range and Wilko.

Following the appointment of Gavin Park, Gavin Maher and Adele MacLeod of Teneo Financial Advisory as joint administrators to the DIY retailer, CDS Superstores has bought the Homebase brand name, intellectual property and 70 stores in a move which is expected to save 1,600 jobs.

The remaining 49 stores will continue to trade as usual while the administrators seek a buyer, although this means that 2,000 jobs are still at risk including those at the retailer’s head office.

Alex Simpkin, CDS Superstores group chief executive, said: “We’ve stepped in following the sad demise of the much loved Homebase brand which has had a long and previously successful history of helping UK households with their DIY projects and gardening needs, for over 45-years.

“The Homebase brand will continue to trade online, and the acquired stores will continue to trade as Homebase over the coming months until they are transferred to CDS when they will quickly re-open as The Range superstores.

“These stores will include everything you’d expect from The Range, combined with much broader choice across garden, showroom and DIY categories – retaining the best of the Homebase expertise and heritage. We plan to continue to invest in the Homebase brand, with many initiatives in the pipeline.”

CDS Superstores acquired the Wilko brand just over 12 months ago and since then has relaunched several trial stores.

The group said it is now in a position to roll out a significant number of Wilko format stores alongside new The Range shops as part of plans to more than double its store estate over the next four to five years.