PLYMOUTH retail mogul Chris Dawson has rescued Homebase after it collapsed into administration -saving 1,600 jobs.
Mr Dawson's company CDS Superstores, owner of The Range and Wilko, acquired the Homebase brand name, intellectual property, and up to 70 of its UK stores.
The stores will continue to trade under the Homebase banner but will eventually be turned into The Range stores. The Homebase brand will continue online though.
The long-standing DIY retailer appointed administrators at consultancy Teneo on Wednesday before CDS bought the majority of its stores out of administration.
But Teneo said 49 stores which are not part of the deal will continue to trade as normal, while administrators try to find a buyer, and the future of another 2,000 workers remains unclear.
Alex Simpkin, CDS chief executive, said: "We've stepped in following the sad demise of the muchloved Homebase brand which has had a long and previously successful history of helping UK households with their DIY projects and gardening needs, for over 45-years.
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