HHGL trading as Homebase - Case Update

There has been a significant development in the administration of Homebase, with a slew of additional stores reportedly set to be rescued in the coming weeks.

We last wrote about Homebase in November, when we reported on the pre-pack deal reached between joint administrators Gavin Park and Adele MacLeod of Teneo and CDS (Superstores International) trading as The Range and Wilko, the retail giant owned by billionaire Chris Dawson. CDS acquired the business name, intellectual property and “up to” 70 of Homebase’s 135 stores, but it was not clear at the time how many stores CDS would ultimately rescue. Initially, only 12 locations were confirmed saved by CDS.

Now, various sources (including The Sun and Birmingham Live) are reporting that an additional 14 locations have already been or will be saved in the coming weeks:

• 14 February: Stores in Ashbourne, East Dereham, and Staines reopened under The Range banner.

• 21 February: Stores in Bicester, Huntingdon, and Reigate reopened as The Range.

• 28 February: Stores in Eastbourne, Oxford, and Morecambe are set to reopen.

• March 7: Stores in High Wycombe, Selby, and Bodmin will reopen.

• 21 March: Stores in Edinburgh (Craigleith) and Horsham are scheduled to reopen as The Range branches.

According to The Sun, 54 stores have been or will be closed shortly. A further 5 were acquired by B&Q, while 26 are still listed for sale. Not much is known about the remaining 30 or so stores that were never listed for sale.