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B&M in talks to buy 'dozens' of Homebase stores - Sky News

Published 13/11/2014, 22:23
B&M in talks to buy 'dozens' of Homebase stores - Sky News
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(Reuters) - Discount retailer B&M is in talks with Home Retail Group (L:HOME), Britain's biggest household goods retailer, to buy dozens of its Homebase do-it-yourself (DIY) stores, Sky News reported on Thursday.

A deal has not yet been reached and other retailers have also shown interest to HRG, Sky said.

However, it would be a surprise if B&M did not acquire at least some of these stores, Sky reported, citing people familiar with the matter.

B&M and Homebase declined to comment.

Last month, Home Retail said it would close about 80 of its 323 stores over the next four years through a combination of lease expirations and property exit deals with other retailers.

Homebase has suffered from an excess of retail space in Britain, the growth of non-traditional competitors such as supermarkets and the rise of a generation less skilled in DIY projects.

(Reporting by Shivam Srivastava in Bangalore; Editing by David Gregorio)

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