Homebase Ireland makes 1 Million Loss

Markd518

Just read Homebase Ireland made a 1 Million Loss will probably follow same fate as argos soon

Jim_Hodge

The loss seems to be due to exceptional costs, Covid assistance repayment and fixed asset impermeant. I wouldn't write them off just yet.

JVince

B&Q are in the midst of agreeing to purchase the Irish stores.

No overlap except possibly Waterford.

Deal should be announced soon ( it was reported and b&q mentioned it in a stock market filing).

10-10-20

The stock-levels and general state of the place in Homebase Nutgrove was shocking bad the last two times that I was there. Gaps on every shelf and pallets of not much rammed everywhere. I wasn't impressed.

Markd518

Oh didn't realise that, I take it they would just rebrand to b&q rather than keep the homebase brand ?

standardg60

https://www.boards.ie/discussion/comment/122036063#Comment_122036063

Not surprised at that, more so that they've lasted this long here, it's just never really resonated with the public here for whatever reason.

JVince

https://www.boards.ie/discussion/comment/122036072#Comment_122036072

Yep, full rebrand. Homebase brand has no value.

SVI40

Over priced place. Some of their offerings were 20% more expensive than Woodies, who are expensive as it is.

byte

An article I found on The Times about it.

Today, I learned that B&Q and Screwfix are under the one umbrella, Kingfisher.

https://www.thetimes.co.uk/article/homebase-may-disappear-from-ireland-as-kingfisher-circles-xzzgdvnsl

Markd518

They would have a good share of the DIY market if they buy the homebase stores then .

Kaisr Sose

https://www.boards.ie/discussion/comment/122036287#Comment_122036287

Kingfisher is big..really big. Owning Castorama in France and other countries.

Homebase was competitive at one stage. Loosing it won't do anything for competition in this sector.

road_high

Brexit related issues I’d say are not being kind to U.K. based retailers operating here. The paperwork to avoid tariffs and customs charges must be quite onerous. Most of their stuff is likely made in the far east and imported to the U.K. and distribution from there to here. How does that work in avoiding rules of origin issues? I assume it means they need a much bigger entity based here or in the EU

Dav010

I find it a bit on the expensive side myself, but I do use Homebase a lot because it has so much under the one roof. There probably isn’t to many Saturdays I’m not in there picking up garden/home stuff. I really hope they don’t downsize and start closing stores.