Homebase seeks new owners

The UK home improvement chain Homebase is to be sold. Confirming press reports to this effect, the company has published the following statement: "Having built an excellent foundation, Homebase is moving out of its turnaround phase and entering into an exciting new chapter of growth. Now is the right time for us to be starting conversations with potential new owners to accelerate our plan." Comprising approximately 160 stores and the second-largest retail area in Great Britain, together with eleven stores in Ireland, the chain has belonged to financial investor Hilco following its acquisition from Australian DIY chain Bunnings in 2018.