Chris Dawson‚ the Monaco-based owner of The Range is close to finalizing a huge retail rescue deal. The businessman (known for his DE11 BOY number-plate Rolls-Royce) plans to take-over about 70 Homebase outlets
The complex deal worth £30m includes not just brick-and-mortar locations but also the 40-year old brand name and its e-commerce platform. Around 1600 workers will keep their jobs‚ while another thousand face uncertain future unless new store buyers appear soon
Some well-known chains like Wickes and Topps Tiles might buy 10 more locations‚ this comes after Sainsburyʼs already picked up 14 best-performing stores. The remaining 34 shops with roughly 500 staff members face possible shut-down; however administrators dont stop looking for potential buyers
The DIY chainʼs recent history shows many ups-and-downs – from a failed Australian ownership to Covid-related challenges. Last year it lost about £21m which followed a £40m loss year before that. The current owner Hilco (who bought it for just £1) couldnt stop the financial down-spiral
Dawson who started his first store back in 89ʼ already showed interest in troubled retailers: he recently bought parts of Wilko. His company The Range operates more than 200 super-stores across Britain making it one of UKs biggest retail players