Homebase

Homebase was sold to restructuring specialist Hilco after a botched retail takeover by Australian business, Wesfarmers, in 2016 which originally saw Homebased purchased for £340 million. Wesfarmers had intended to give the well-known DIY chain a £500 million facelift. Despite this, they had not anticipated the competition in the UK market, and had made some ill informed decisions on products and management. As a result they handed over the entire 250-store chain for just £1.

Administrators: N/A Bought by Hilco
Year Founded: 1979
Total Number of Employees: 12,000
Total Number of Jobs Lost: 1500
Number of Retail Shop Closures: 42
Managing Director/CEO: Damian McGloughlin

1. 2018