Major update on Homebase administration as eight more store rescues confirmed – see the full list

EIGHT more Homebase stores have been rescued by the owner of The Range.

The DIY and homeware chain entered administration in November but was partially rescued by billionaire Chris Dawson, owner of CDS Superstores, the parent company of The Range and Wilko.

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Dawson's intervention aimed to preserve "up to" 70 stores, safeguard 1,600 jobs, and retain the Homebase brand.

However, this left 74 branches and approximately 2,000 employees facing an uncertain future.

Just a week later, Teneo, the administrators for Homebase, placed the 74 stores up for sale.

Analysis by The Sun at the time revealed that just 57 stores were excluded from the sale listing, suggesting they could have been part of CDS's rescue plan.

To date, however, CDS has only confirmed the rescue of 26 stores, leaving the exact number of saved locations unclear.

However, The Range's owner has no announced the acquisition of an additional eight sites, some of which are opening within days.

Homebase stores in Ruislip, Maidenhead, Harrogate, Dublin Nutgrove, and Dublin Santry are set to reopen under The Range banner later this month.

An additional three locations - in Bangor, Godalming, and Winchester - will welcome shoppers from April onwards.

Once these additional stores reopen, the total number of former Homebase locations confirmed as acquired by The Range will rise to 34.

It remains unclear whether The Range has taken over the 22 sites that were never officially listed for sale.

Meanwhile, a handful of other retailers have stepped in to purchase some of the stores that were not included in the chain's rescue deal.

Among them is B&Q, which has agreed to buy eight of the chain’s branches that were put up for sale.

On Friday, Wickes announced that it had acquired five more stores, including a former Homebase location that had closed prior to the chain entering administration.

Additionally, B&M has confirmed that it has acquired the lease for Homebase's former site at Tweedmouth Retail Park in Berwick.

Homebase has shuttered eight stores over the past three days.

The Farnham and Truro branches permanently closed their doors on Saturday, March 1, after efforts to find a buyer proved unsuccessful.

Meanwhile, the Basingstoke store also closed on the same day but is set to reopen soon under the B&Q banner, following its acquisition by the rival DIY retailer in January.

On Sunday, the Bracknell store permanently closed its doors after efforts to find a buyer proved unsuccessful.

Meanwhile, the Letterkenny store also closed but is expected to undergo refurbishment before reopening under the B&Q banner.

Stores in Bury St Edmunds, Dunfermline, and Leeds (Moor Allerton Centre) closed their doors on Monday.

However, all three locations have been acquired by Wickes and are set to reopen soon under its branding.

What is happening to the stores bought by CDS?

CDS Superstores previously said it would buy "up to 70" Homebase shops.

It has also taken on the Homebase brand and relaunched its website with thousands of products up for sale.

It is in the process of re-purposing and opening some of the former Homebase stores under its The Range brand.

The new stores feature products usually found in The Range but some contain "Garden Centres by Homebase".

Others locations feature "Kitchens by Homebase" spaces.

CDS Superstores has announced its ambition to open three new stores per week in the coming months, with plans to launch at least 50 locations by the end of April.

Pictures of one of the new stores in Bournemouth were revealed when it opened in January.

CDS said the move to take on "up to 70" Homebase sites would see 1,600 staff keep their jobs.

Why are DIY chains struggling?

It has been a tricky time for home improvement chains, both large and small.

It comes as shoppers have been cutting back on spending following the pandemic.

Plus, the recent turmoil in the housing market has meant that homeowners aren't as focused on DIY projects as they once were.

In the spring, Kingfisher, which owns B&Q and Screwfix, revealed that annual profits had slumped by more than a quarter.

The company reported a 25.1% drop in underlying pre-tax profits to £568million for the year to January 31, 2024.

Window and door specialist Everest called in administrators in April, leaving customers in the dark about their orders.

Last year, the group had previously cautioned profits would slip after a 36% drop in pre-tax profits from £1billion to £611million in the 12 months to January 2023.

Rival Wickes also reported a 31% fall in profits to £52million on flat revenues of £1.55billion for 2023.

Windows and doors company Safestyle collapsed into administration in October last year.

The company has a manufacturing site in Wombwell, near Barnsley and 42 sales branches and depots across the country.

Flooring retailer Tapi recently struck a multimillion-pound rescue deal to save the Carpetright brand and dozens of stores last month.

Tapi purchased 54 of the chain's stores and two warehouses in a pre-pack administration deal that saved 300 jobs.

However, the deal did not include 200 other stores which all closed their doors.