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Homebase Sold For £1

25th May 2018

Photograph of Homebase Sold For £1

Struggling hardware chain Homebase has been sold to retail turnaround specialist Hilco Capital for the nominal sum of £1.

Homebase was put up for sale by its Australian owner earlier this year, just two years after completing a £340m takeover.

Wesfarmers expects the disposal to cost up to £230m. It will be entitled to 20% of any future sale of the business.

Hilco was given a "Turnaround of the Decade" award last year for its revival of HMV.

The Wick store opened 13th April 2006.

PHOTO

Wick Homebase store on opening day 13th April 2006.

Photographer Bill Fernie