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It is understood the stores to have launched sales were not included in the sale, but administrators Teneo told The Sun it would not comment on their future.
The deal with Mr Dawson also included the 40-year-old brand and its website.
It has since been revealed that the Homebase name will continue solely online, as all 70 stores sold are set to be rebranded as The Range superstores.
Administrators Teneo consultancy will now oversee the implementation of The Range’s rescue deal and the sale of all of Homebase’s remaining assets, including the remaining 49 stores.
Homebase operated 119 stores nationwide, including in major cities such as London, Birmingham, and Hull.
The buyout has saved approximately 1,600 jobs, but around 2,000 jobs and the 49 remaining stores face uncertainty.
The stores continue to operate as usual, while a buyer is sought.
The home improvement store had been looking to reduce its estate in recent months and Sainsbury’s recently snapped up 11 of its outlets.
The outlets will begin to close next month, before being converted into Sainsbury’s supermarkets.
Homebase’s collapse comes after the retailer went through a string of different owners.
Argos sold it for £360million in 2016 to Aussie conglomerate Wesfarmers, which tried and failed to use it as a UK launchpad for its Bunnings DIY brand.
Despite DIY spending soaring in the pandemic, Homebase racked up losses as costs spiralled, and the cost-of-living crisis then hit demand.
Homebase chief executive officer Damian McGloughlin said it had been an “incredibly challenging three years”.
“A decline in consumer confidence has been exacerbated by persistent high inflation, global supply chain issues and unseasonable weather,” he added.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
6 days agoLatest NewsComments Off on Amad Diallo could be handed shock position change as Ruben Amorim begins to put stamp on Man Utd team
AMAD DIALLO could be the first major winner of Rubem Amorim’s reign.
The Ivorian right-winger is tipped to start ahead of big names in Amorim‘s first match in charge of Manchester Unitedat Ipswich on Sunday, with Marcus Rashford and Alejandro Garnacho among those under pressure.
Amad Diallo has quickly impressed new Man Utd boss Amorim[/caption]
Ruben Amorim has identified ‘character’ and team unity as priorities[/caption]
And there’s also a chance Diallo will take on a new role for the Pem clash.
United’s new Portuguese boss Amorim is already understood to have made major decisions about certain stars – after just a week of training.
That includes some players he reckons won’t fit into his preferred 3-4-3 system, as used in four years at Sporting Lisbon.
This weekend’s main selection concern is likely to concern the front three.
But it’s thought Diallo’s workrate, as well as his team ethic, give him the edge over widemen with arguably more flair but less consistency – such as Garnacho and Antony.
So the former Sunderland loanee, 22, might finally be in pole position to hold down a regular spot on the right wing for the Red Devils.
Amorim perhaps hinted as much by saying: “The team is the most important thing for me.
“If you work as a team, then the talent individually is going to shine.”
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The 39-year-old rated “running back” and “character” as other priorities.
Meanwhile, left-backs Luke Shaw and Tyrell Malacia are finally in full training again after long-term injuries.
But Diallo has impressed Amorim at Carrington with his hard graft.
And that means he might also be in contention for a starting position wide in midfield when the 13th-place Red Devils travel to the Tractor Boys in 17th.
So the big question this weekend is: How much self-belief will he have to launch an instant shake-up with Diallo and all?
Man Utd ratings v Leicester
Here's how SunSport's Martin Blackburn rated the Red Devils.
ANDRE ONANA – 7
Stood tall when Ndidi went through on goal and a decent tip round the post from Ayew as Leicester tried to get back in it.
NOUSSAIR MAZROUAI – 6
Lucky to escape tackle on Buonanotte without any punishment. Supplied the cross from the left which led to United’s second goal.
MATTHIJS DE LIGT – 6
Made a key second half clearance when the Foxes were trying to find their way back into the game. Fairly comfortable afternoon for home defenders.
LISANDRO MARTINEZ – 7
Spent the first hour at centre half then showed his versatility by switching to left-back when Dalot was forced off.
DIOGO DALOT – 6
Did a steady job keeping the Foxes at bay but then taken off on the hour – presumably due to injury as United had to reshuffle their defence.
CASEMIRO – 7
Better from the veteran Brazilian who helped United take command of the game before getting the chance to put his feet up late on.
MANUEL UGARTE – 6
Great challenge on Soumare showed what he is all about and some signs he is finding his feet. Will be looking forward to arrival of former boss Amorim.
AMAD DIALLO – 7
Delightful backheel for Fernandes to curl home the opener and could have scored himself. The Ivorian has had a good week.
BRUNO FERNANDES – 8
Presented with a shirt to mark his 250th appearance before the game and will be getting more plaudits for his performance here. Involved in all three goals.
MARCUS RASHFORD – 5
Given the nod to start ahead of Garnacho but did not do enough to justify the faith of Van Nistelrooy. No surprise when he was replaced by the Argentine on the hour.
RASMUS HOJLUND – 5
A largely ineffective afternoon for the Danish forward before he was subbed late on. Nothing wrong with his work-rate but does he have the quality Amorim will want?
6 days agoLatest NewsComments Off on Horse racing tips:
SUN Racing goes through Friday’s cards on the hunt for value.
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LONGSHOT
THE WINSLOW BOY (1.40 Chepstow)
He showed promise when third on comeback at Worcester and can hit the frame again.
THIEF
BERGERAC (5.15 Newcastle)
He has done well before here and ran a cracker from the wrong side in the Ayr Silver Cup.
ROMAN HARRY (5.45 Newcastle)
He went close here last time and has no problem seeing out this mile trip.
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