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Under the terms of the agreement with Sainsbury's to acquire Home Retail Group, for each Home Retail Group share, shareholders received 0.321 new Sainsbury’s shares and 55p per share. As a result of the sale of Homebase, they also received 25p per share, plus the year's dividend as a final dividend payment. [22]
Sainsbury’s bought ten shops from the troubled retailer in August, planning to convert them into large supermarkets. The grocery giant first created the Homebase brand in the 1970s, before ...
In 1985, it was acquired by Zayre, a Framingham, Massachusetts-based discount department store chain. After Zayre was acquired by Ames, HomeClub was spun off under a new company called Waban Inc., which also owned BJ's Wholesale Club. In 1991, it discontinued its membership program and adopted the HomeBase name shortly thereafter.
Having acquired Texas Homecare in 1986, Ladbrokes sold the business to J Sainsbury in 1995. [3] At the time of the purchase, Texas had more than 11,600 staff, while Homebase had c. 4,500. As part of the acquisition, 26 Texas stores closed and Sainsbury's converted the remaining stores to the Homebase brand. [4]
Administrators have now placed 74 leasehold Homebase stores on the market. They have set a deadline of November 29 for potential suitors to buy the remaining stores, amid efforts to secure more ...
Since Sainsbury's acquired Argos, more and more standalone stores have been moved into a nearby Sainsbury's store. On 25 September 2019, Sainsbury's announced that over 50 Argos stores would be closing or relocating in order to cut costs. Stores also began to feature digital computers as well as printed catalogues to save costs.
As of 2023, The Range has 210 stores across the UK and Ireland. In September 2023, it purchased the Wilko brand from administrators, maintaining its online presence, and began opening physical Wilko stores in December 2023. [3] In November 2024, it purchased the Homebase brand and up to 70 stores from administrators. [4]
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