Hilco-backed Homebase acquires Bathstore

The deal comprises 44 stores in addition to the Bathstore brand and stock. According to a statement by administrators BDO, the deal will safeguard 154 jobs, though there remain 90 stores that will continue to trade for a matter of weeks until their display stock has been sold.

The transaction comes 14 months after turnaround player Hilco acquired Homebase from trade vendor Wesfarmers. The vendor said at the time that the Homebase brand could "return to profitability over time", but that this would require additional capital investment.

According to a report by Sky News, Homebase generated a £100m loss in 2018 but is expecting to break even in 2019.

Company
Founded in 1988 and headquartered in Welwyn Garden City, Hertfordshire, Bathstore is a bathroom retailer.

People
Homebase – Damian McGloughlin (CEO).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Build-up
• BDO LLP