Homebase is in the process of “preparing to appoint administrators” with 130 stores likely to be at risk of closure.
Britain’s high streets have been decimated by a wave of store closures in recent years with the DIY retailer being among the many businesses to shut down locations.
It is understood the popular DIY and garden chain will appoint administrators from Teneo to manage the process.
Despite the risk of closures, Sky News reports that The Range is floating purchasing 75 stores as part of a pre-pack administration.
This is part of an insolvency process which allows a business to sell its assets before making the decision to appoint admnistrators.
However, this move has yet to be confirmed but could save up to 1,500 jobs at Homebase.
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Homebase is reportedly preparing to appoint administrators
PA
GB News has contacted Homebase for comment.
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