DIY chain Homebase has been put up for sale by its owner, Hilco.
Turnaround specialist Hilco acquired the Homebase business from Australian conglomerate Wesfarmers in 2018, for the sum of £1. Westfarmers reportedly bought the chain for £340m in 2016.
At the time, operating losses were said to be running at approximately £20m a month. Since then, Hilco has overseen a major overhaul of the business, including job cuts and store closures.
A spokesperson for Homebase said: “Having built an excellent foundation, Homebase is moving out of its turnaround phase and entering into an exciting new chapter of growth. Now is the right time for us to be starting conversations with potential new owners to accelerate our plan.”
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