Homebase Welcome Back Concessions

6 December 2018, 12:38 | Updated: 6 December 2018, 12:43

Homebase Retailer

The Milton Keynes based DIY chain Homebase say they've struck a deal for their first in-store concessions under new ownership Hilco.

The agreement with carpet retailer Tapi, will see the first concession open in Orpington in Kent, this month with further openings over the next two years.

Homebase say they are still closing 42 stores around the country (inc. Aylesbury and Bedford St Johns) as part of their rescue plan (as part of a CVA, a company voluntary arrangement).

Homebase was sold by Wesfarmers in May, after less than two years of ownership as the company revealed £57m worth of losses related to the takeover.

All concessions including Laura Ashley, Habitat and Argos were closed under the Wesfarmers strategy, which also saw a handful of Homebase stores rebranded to Bunnings.

The introduction of Tapi to stores marks the first step in a revitalisation plan which is likely to involve the opening of more concessions in the remaining Homebase chain..

Homebase chief executive Damian McGloughlin said:

"We see lots of opportunities to work with partners like Tapi to offer complementary products to help our customers complete their home projects."

Tapi, which was launched in 2015 by Martin Harris - son of Carpetright founder Lord Harris of Peckham - already has more than 100 stores in the UK.

Mr Harris said:

"We're very much looking forward to working with Homebase and believe the partnership will provide customers with even more choice when choosing the perfect flooring for their home."