Homebase owner eyes second sale in four years
Homebase CFO Andy Coleman stepped down in January and was replaced by the company’s director of finance Simon Luscombe
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Hilco Capital has reportedly put Homebase up for sale for the second time in four years after acquiring the business for £1 in 2018.
According to reports from The Times, Hilco has already sounded out potential buyers such as B&M and The Range.
Hilco originally acquired Homebase from Australian firm Wesfarmers who had bought the business for £340m in 2017.
After acquiring the retailer Hilco launched a CVA to reduce rents and close stores but this was ended 18 months early after it managed to renegotiate a number of leases and improve its profits.
It originally put Homebase up for sale in 2020 in an attempt to capitalise on the home improvement boom brought about by the pandemic.
Homebase CFO Andy Coleman stepped down in January and was replaced by the company’s director of finance Simon Luscombe.
Retail Sector has approached Homebase for comment.
