Major chain to open five new stores - all the locations are revealed
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B&Q has struck a deal to acquire five Homebase stores across the UK, further solidifying its position as the nation's leading home improvement retailer following its competitor's fall into administration last year. The £2.5m agreement will see the stores rebranded as B&Q outlets by year-end.Homebase was compelled to bring in administrators in November, attributing its significant losses to diminished consumer confidence and spending post-pandemic and the cost-of-living crisis. I.
It subsequently brokered a deal with retail group CDS for the sale of up to 70 stores, thereby preserving approximately 1,600 jobs. CDS, owner of The Range outlets, also purchased parts of high street retailer Wilko after its 2023 collapse. However, this left the future of 49 UK stores uncertain as administrators sought a buyer. B&Q, boasting over 300 stores in the UK and Ireland and owned by Kingfisher, will assume control of five of these sites, subject to landlord approvals.
The stores are located in Altrincham, Greater Manchester; Basingstoke, Hampshire; Biggleswade, Bedfordshire; Leamington Spa, Warwickshire; and Worcester, Worcestershire. B&Q anticipates the stores will be converted to its own brand come spring, with refurbishments finalised by year-end. Once the leases have been exchanged, staff at these sites will transition to B&Q employees.
Graham Bell, the chief executive of the home improvement chain, expressed his thrill at growing the retailer's presence. With a recent £3.2m acquisition of three stores in Ireland, he said: "We’re determined to give home improvers the choice and convenience they deserve, and to transform the home improvement stores in these locations to fulfil that need.
