Homebase, a popular home and garden retailer, is facing closure as it enters administration, putting 130 of its stores at risk.

A popular DIY and garden company, Homebase, has been making headlines lately with news of its potential collapse. With 145 branches across the UK and Ireland, the company has been struggling financially and is now facing the possibility of administration. This unfortunate situation could result in the closure of 130 stores and the loss of countless jobs.

According to recent accounts filed at Companies House, Homebase had already closed down 106 branches in 2018, and in 2022, they reported a loss of over £40 million. In an effort to turn things around, the retailer was bought by Hilco Capital for just £1 in 2018. However, it seems that even their efforts were not enough to keep the company afloat.

To try and salvage some jobs, Sainsbury's has stepped in and announced plans to convert 10 of Homebase's stores into supermarkets. These selected stores, located in Sutton Coldfield, Bromsgrove, Cromer, Derry/Londonderry, Fareham, Inverurie, Lowestoft, Newark, Omagh, and Rugby, will now offer groceries and other household essentials in addition to DIY and garden products.

Rumors have been circulating that the owners of Homebase are looking to sell the company, and it seems that The Range, a rival retail chain, is interested in taking over. As we wait for further updates on the situation, you can stay informed by following The Agency on Twitter and Facebook. And now, you can also receive our articles directly to your device by signing up for our daily push alerts. Thank you for your support and stay tuned for more news.

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