Uncertainty over future of Homebase in Basingstoke

While a rescue deal has secured 70 of Homebase’s 119 UK stores, the fate of the Basingstoke branch is unclear as it is not sure if the store is among the 49 locations not included in the sale to CDS, the owner of The Range.

Employees at the Basingstoke store have not received any updates about the store’s future and are waiting for further communication from the company.

On Wednesday, November 13, administrators from Teneo were appointed to manage the struggling Homebase chain after it suffered financial difficulties linked to declining consumer spending, high inflation, and supply chain disruptions.

There is uncertainty over the future of Homebase store in Basingstoke (Image: Newsquest) READ MORE: Homebase bought out of administration securing up to 1,600 jobs

The company, which reported an £84.2 million loss last year, has been sold in part to CDS, which will take over 70 stores and the Homebase brand, safeguarding approximately 1,600 jobs.

There is uncertainty as the remaining 49 stores will continue to trade while the administrators seek potential buyers.

In the meantime, employees’ wages and benefits will be paid, and customer orders will be fulfilled where possible.

When contacted specifically about the Basingstoke store, the Homebase press office did not provide specific information about the future of individual stores.

It reiterated that the administrators are “continuing active discussions with interested parties” regarding the remaining locations and assured that there are no immediate redundancies planned.

SEE ALSO: Homebase ‘set for administration’ with thousands of jobs at risk

The Basingstoke Homebase store faces four potential outcomes:

Sale to Range: If the Basingstoke store is among the stores acquired by Range (CDS), this could secure the future of the Basingstoke branch.

Closure: If no buyer emerges, the store could face closure, potentially leading to job losses for its employees.

Repurposing: Similar to a deal earlier this year, where Sainsbury’s acquired 10 Homebase sites, the Basingstoke store could be converted for alternative retail or commercial use.

Meanwhile, Damian McGloughlin, CEO of Homebase, described the decision to enter administration as “incredibly challenging,” citing a tough economic environment and declining consumer confidence.

Joint administrator Gavin Maher said: “We appreciate this is a very difficult and uncertain time for all involved. The sale to CDS preserves the Homebase brand and secures a significant number of jobs, and we hope to complete sales of additional stores over the coming weeks.”