Bunnings set to reopen as Homebase on Friday
Date published: 22 August 2018
Bunnings will convert to Homebase
Rochdale’s Bunnings store at Sandbrook Park will reopen as Homebase on Friday (24 August).
Following a management buy-out earlier this year, all 24 Bunnings pilot stores will convert to the Homebase brand following completion.
Wesfarmers has agreed to divest the Homebase business in the United Kingdom and Ireland to a management buy-out team led by CEO Damian McGloughlin supported and funded by Hilco, the retail turnaround specialist.
Homebase was acquired by Australian company, Wesfarmers in 2016. The investment has been disappointing for Wesfarmers, with problems arising from poor execution post-acquisition.
Whilst the operating performance of the business has improved in recent months under the new management team led by Damian McGloughlin, Wesfarmers took the decision to exit the UK following a comprehensive review of the business.
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