Homebase may have to cut 1,700 jobs amid insolvency reports

Homeware retailer The Range reportedly interested in deal to buy 75 existing stores in pre-pack sale arrangement

Thousands of workers at the Homebase DIY chain face uncertainty over their future amid reports that the retailer is close to appointing administrators, with homeware specialist The Range poised to snap up some of its stores.

Homebase is expected to appoint Teneo to handle an insolvency process for its UK arm, which has about 130 stores.