B&Q owner and M&S emerge as bidders for Homebase stores
Marks & Spencer and the parent group of B&Q have emerged as potential bidders to acquire a number of former Homebase stores following the DIY retailer’s collapse into administration.
Kingfisher and M&S are among a number of retailers looking to acquire a chunk of the remaining 50 Homebase stores ahead of a deadline on Friday, Sky News has reported.
The two companies are believed to be eyeing an acquisition of between 20 and 25 stores.
Industry sources told Sky News that Home Bargains was also considering a purchase of a number of Homebase stores.
This comes after The Range, owned by CDS Holdings, acquired Homebase’s brand and up to 75 stores earlier this month. The sale brought an end to the six-year ownership of Homebase by Hilco, the retail investor which has previously rescued brands such as HMV. Prior to this, Homebase was owned by Australian group Wesfarmers, which in 2018 launched a company voluntary arrangement leading to the closure of a number of stores and a renegotiation of rent deals.
Following the acquisition, 74 Homebase stores were then placed on the market, ranging in size between 15,455 sq ft and 1.19m sq ft. You can find the full list of stores here.