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. 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,

Over half of Homebase's workforce faces uncertainty after the DIY retailer's owners called in administrators following a failed sale attempt.