Homebase has been put up for sale, following two and a half years of major structural overhaul by its most recent buyers Hilco.
Turnaround specialist Hilco acquired the Homebase business from Australian business Wesfarmers in 2018, for the sum of £1. Westfarmers bought Homebase just two years prior to that for £340 million.
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. The restructuring firm shut down stores and bought Bathstores out of administration last year, and has now opened 49 concessions in its stores.
In a statement 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.”