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 collapsed into administration, putting 2,000 jobs at risk. Hilco, the owner of Homebase, had been looking to sell the struggling retailer but has not managed to find an outright buyer. The company behind The Range retail chain is buying up to 70 stores as well as the Homebase brand, safeguarding about 1,600 jobs.

Homebase has collapsed into administration, putting 2,000 jobs at risk. Its owner Hilco had been looking to sell the struggling retailer, but has not managed to find an outright buyer. The owner of homeware chain The Range is buying up to 70 stores and the brand, safeguarding about 1,600 jobs.

Homebase has been sold in a rescue deal to retailer CDS in a move securing up to 1,600 jobs and 70 stores, administrator Teneo has said, but around 2,000 workers and 49 shops still remain at risk.

The DIY retailer appointed administrators at consultancy Teneo on Wednesday before CDS, which owns The Range homeware outlets, bought the majority of its stores out of administration

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 has entered administration, endangering 2,000 jobs, as The Range acquires 75 stores Homebase has fallen into administration placing 2,000 jobs at risk. The British home improvement company’s owner,