Future of Maidenhead Homebase remains unclear after company falls into administration

The future of Homebase in Maidenhead is yet to be confirmed after the company fell into administration.

On Wednesday, it was announced that consultancy firm Teneo had been appointed as administrators for the struggling home improvement retailer.

The administrators subsequently completed a sale of up to 70 of the chain’s stores to CDS (Superstores International) which own The Range and Wilko.

This is expected to secure up to 1,600 jobs.

Discussions remain ongoing over the future of Homebase’s remaining 49 UK stores.

The future of the Maidenhead store, which has been in Stafferton Way for several years, remains unclear. The Advertiser has contacted the administrators for further information.

Gavin Maher, joint administrator for HHGL Limited and Hampden Group Limited, trading as Homebase, said: “We appreciate that this is a very difficult and uncertain time for all involved.

“The sale to CDS preserves the Homebase brand and secures a significant number of jobs and we hope to complete sales of additional stores over the coming weeks.

“The remainder of the stores will continue to trade whilst buyers are sought and we would encourage any party with an interest to get in touch.”

Damian McGloughlin, chief executive of Homebase, said it has been an ‘incredibly challenging’ three years for the home and garden improvement market.

The company, which employs around 3,600 staff, has been experiencing a drop in sales due to a ‘decline in consumer confidence’ as well as global supply chain issues.

Mr McGloughlin said: “A decline in consumer confidence and spending following the pandemic has been exacerbated by the impact of persistent high inflation, global supply chain issues and unseasonable weather.

“Against this backdrop, we have taken many and wide-ranging actions to improve trading performance including restructuring the business and seeking fresh investment.

“These efforts have not been successful and today we have made the difficult decision to appoint Administrators.

“My priority is and continues to be our team members, and I recognise that this news will be unsettling for them.

“I want to thank our team members and supplier partners from the bottom of my heart for their hard work and commitment over many years.”