Homebase is set to return in a scaled-down format following the collapse of the DIY chain last month, with its new owner CDS confirming plans to reopen 70 former stores under the Range Superstores banner.
Each outlet will retain the Homebase name on its garden center sections, and some will also include Homebase branded kitchen sections.
CDS, founded by former market trader Chris Dawson, intends to launch the first three converted stores on 17 January in Pollokshaws (Glasgow), Christchurch (Bournemouth) and Kings Heath (Birmingham), followed by 10 new openings per month from February. The privately owned retailer is headquartered in Plymouth and operates around 220 sites in the UK and Ireland under the Range and Wilko brands.
Homebase’s online presence will come under CDS’s control in early 2025, and Teneo – the manager of the defunct chain – is looking for buyers for 49 outlets not included in the deal. During the transition period, those remaining stores will continue to trade under the Homebase name.
Alex Simpkin, CEO of CDS, said: “We are fully committed to preserving the best of the Homebase heritage while delivering the broadest product range and value that customers have come to expect from us as a group.”
The acquisition of Homebase follows CDS’ purchase of the Wilko brand in September 2023, after the budget homewares retailer fell into administration. CDS has since opened seven Wilko stores, mainly on high streets and in shopping centres, and plans to open more sites next year. However, targets to open 40 Wilko outlets this year have been scaled back due to intense competition in the discount retail sector and challenges in finding suitable venues.
Industry observers suggest that the dual acquisition of Wilko and Homebase could pave the way for credit default swaps to make their stock market debut, a move the company explored but later abandoned several years ago. Simpkin says the company’s “significant investments in infrastructure” have prepared it for “the next phase of growth.”
He adds that the group is well placed financially to expand to hundreds of potential sites, moving beyond the traditional retail parks favored by Range to test a variety of store formats and locations.
Comments are closed, but trackbacks and pingbacks are open.