Homebase is up for sale for the second time within four years, with potential buyers such as B&M and The Range already sounded out on a deal.
Restructuring company Hilco Capital, which purchased Homebase for £1 in 2018, is thought to have been in talks with a number of parties about offloading the DIY chain.
Hilco snapped up Homebase from its former Australian owner Wesfarmers, which forked out £340m for the business 18 months earlier.
The Australian conglomerate company was accused of underestimating the competition from brands such as B&Q and not understanding the differences between British and Australian retail.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Hilco launched a CVA to reduce rents and shut shops at the chain, however, Homebase ended the arrangement 18 months early after renegotiating the majority of its leases and improving profts.
The investment firm initially put Homebase up for sale in 2020 in a bid to capitalise on the pandemic boom for home improvement companies.
In January, Homebase chief financial officer Andy Coleman stepped down from the business after six years, and was replaced by Simon Luscombe, who has been the retailer’s director of finance the last seven years.
Click here to sign up to Retail Gazette‘s free daily email newsletter
