Troubled DIY and garden retailer Homebase is back on the market for the second time in four years.

Hilco Capital bought the chain for £1 in 2018, 18 months after Wesfarmers paid £340m for the group.

The current owners put Homebase up for sale in 2020 in an effort to take advantage of the renovation boom during the pandemic, when people who'd saved on holidays spent on projects around their house.

It's believed Homebase - which has eight Scottish stores, including one in Inverurie - has held discussions with The Range and B&M European Value Retail, although all parties are yet to comment on the reports.

The retailers latest account available stretch back to December 2021, showing operating profit before exceptional items of £63.7m. The company said it had £76.8m "cash in the bank and in hand".

FTSE 100

The UK's flagship share index, the FTSE 100, was up four-points, at 7,668, shortly after opening this morning.

Brent crude oil futures was up 0.30% today, trading at $82.78 a barrel.

Companies reporting today

  • Abrdn - Full Year Results
  • Croda International - Full Year Results
  • Smith & Nephew - Full Year Results
  • Unite Group - Full Year Results

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