Del Boy billionaire prepares massive rescue plan for struggling DIY chain
A well-known retail mogul is about to save dozens of Homebase stores from collapse‚ potentially keeping thousands of jobs safe. The complex deal includes store acquisitions brand rights and online presence
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
