Homebase to discuss growth plans with potential investors
Homebase is set to begin discussions with potential investors focused on driving the retailer’s new phase of growth.
Retail Week reports that the discussions are set to take place next week.
The DIY and gardening retailer recorded a loss of £84m in its latest annual results, down from a profit of £30m the previous year.
Sales also declined during the same period from £788m to £701m, according to reports from The Times.
The news follows the recent announcement that 10 Homebase stores are set to be sold to Sainsbury’s in a £130m deal, with the retailer converting them to supermarkets in the near future. Sainsbury’s is targeting the conversion of all of the sites by the end of the 2025 calendar year.
Hilco Capital – which acquired Homebase for £1 in 2018 – is believed to be in talks with a number of potential suitors regarding a sale of the retailer.