Homebase collapses with 2,000 jobs at risk

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.

Homeware chain The Range is buying up to 75 stores and the brand, safeguarding about 1,600 jobs.

But this leaves 49 stores without a buyer, and thousands of jobs at risk in the stores and head office.

Those stores will continue to trade while administrators Teneo look for a buyer.

Along with up to 70 stores, Range owner CDS Superstores has also bought the brand name and intellectual property.

It is unclear whether those stores will remain branded as Homebase.

The location of the stores affected has yet to be disclosed.