Homebase is on the brink of entering administration, with 130 locations poised for closure, jeopardizing numerous positions.
The do-it-yourself and gardening retailer shut down 106 locations in 2018 and incurred losses exceeding £40 million in 2022, based on financial statements submitted to Companies House.
Hilco Capital, which acquired the company for merely £1 in 2018, has been striving to rectify the financial situation.
In an effort to preserve some jobs, Sainsbury’s is set to transform 10 of Homebase’s 145 locations throughout the UK and Ireland into supermarkets.
The newly converted stores will be located in: Sutton Coldfield, Bromsgrove, Cromer, Derry/Londonderry, Fareham, Inverurie, Lowestoft, Newark, Omagh, and Rugby.
This initiative comes in light of reports indicating that Homebase’s owners are gearing up to sell the enterprise, with competing retailer The Range showing interest in Homebase.
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