Homebase has collapsed into administration, putting 2,000 jobs at risk. Its owner Hilco had been looking to sell the struggling retailer, but has not managed to find an outright buyer. However, homeware chain The Range is buying up to 75 stores and the brand, safeguarding about 1,600 jobs.

Damian McGloughlin, chief executive of Homebase, said the last three years had been “incredibly challenging” for DIY stores. | ITV National News

Homebase bought out of administration securing up to 1,600 jobs - The deal to buy 70 stores came after Homebase appointed administrators on Wednesday but left 2,000 workers and 49 stores still at risk.

Homebase has collapsed into administration, putting 2,000 jobs at risk. Its owner Hilco had been looking to sell the struggling retailer, but has not managed to find an outright buyer. However, homeware chain The Range is buying up to 75 stores and the brand,

British home improvement retailer Homebase has fallen into administration, with up to 70 stores, the brand and its intellectual property immediately sold to The Range owner CDS, administrator Teneo Financial Advisory Limited said on Wednesday.

Plymouth retail mogul Chris Dawson has rescued Homebase after it collapsed into administration - saving 1,600 jobs. Mr Dawson’s company CDS Superstores, owner of The Range and Wilko, acquired the Homebase brand name, intellectual property, and up to 70 of its UK stores.

Homebase has been sold in a rescue deal to retailer CDS in a move securing up to 1,600 jobs and 70 stores, administrator Teneo has said, but around 2,000 workers and 49 shops still remain at risk.

Homebase has fallen into administration placing 2,000 jobs at risk. The British home improvement company’s owner, Hilco, was actively seeking to sell the beleaguered retailer, which has so far proven unsuccessful.