Up to 2,000 jobs are at risk after British home improvement retailer Homebase called in administrators who immediately sold up to 70 stores, the brand and its intellectual property to The Range owner CDS in a so-called prepack deal.

Homebase has fallen into administration placing 2,000 jobs at risk. The British home improvement company’s owner, Hilco, was actively seeking to sell the beleaguered retailer, which has so far proven unsuccessful.

HOMEBASE could be heading for a partial collapse, putting thousands of jobs at risk, amid reports that the chain has appointed insolvency experts with a potential buyer of parts of its 130-store estate also circling.

Homebase has been sold in a rescue deal to retailer CDS, securing up to 1,600 jobs and 70 stores across the UK, its administrator Teneo has said. Despite the deal, around 2,000 jobs and 49 branches of the DIY retailer remain at risk.

Homebase is set to collapse into administration with 130 shops facing closure, putting countless jobs on the line. The DIY and garden chain closed 106 branches in 2018 and lost more than £40 million in 2022,

Homebase could be the next high street casualty amid reports that the DIY and garden store is preparing to appoint administrators. Around 130 shops are facing the risk of closure according to reports.

Homebase is in the process of "preparing to appoint administrators" with 130 stores likely to be at risk of closure. Britain's high streets have been decimated by a wave of store closures in recent years with the DIY retailer being among the many businesses to shut down locations.