Homebase Collapses into Administration; 2,000 Jobs at Risk as New Ownership Takes Over
Homebase, the UK DIY chain, has entered administration, risking around 2,000 jobs. Despite being owned by Hilco since 2018, the company faced declining consumer confidence, high inflation, and supply chain issues, culminating in an £84.2 million loss last year. CDS Superstores has acquired up to 70 Homebase locations, safeguarding approximately 1,600 jobs, while the remaining stores will trade temporarily as administrators seek buyers.