Homebase: Unsecured creditors owed more than £650m

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Homebase owes more than £650m to unsecured creditors including AO World and Halfords after it collapsed into administration late last year.

Unsecured non-preferential creditor claims now sit at £657m, including £100m owed to trade creditors, according to a document filed with Companies House.

The garden and DIY chain owes £2.9m to Close Brothers for till systems and £1.7m to XPO for logistics, which are unlikely to be repaid.

AO World is due £750,000 for appliances supplied for its kitchen showrooms, and Halfords £9,024.



The retailer also owes an intra-group debt of around £534m to Ark Finco, which is owned by founding partner of its former owner Hilco. Administrator Teneo is seeking legal advice as to the security status of the intra-group debt

In its administration report, Teneo said Homebase had “significant secured and unsecured creditor liabilities and a refinancing or legally binding compromise of its debts was, therefore, not achievable”.

The retailer fell into administration in November after its bank, Wells Fargo, declined to extend a lending facility of up to £95m that was due to end in December over concerns about future trading.

The Homebase brand, intellectual property and up to 70 of its stores were quickly snapped up by The Range and Wilko owner Chris Dawson in a pre-pack deal for £25.6m.

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Homebase: Unsecured creditors owed more than £650m

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Homebase owes more than £650m to unsecured creditors including AO World and Halfords after it collapsed into administration late last year.

Unsecured non-preferential creditor claims now sit at £657m, including £100m owed to trade creditors, according to a document filed with Companies House.

The garden and DIY chain owes £2.9m to Close Brothers for till systems and £1.7m to XPO for logistics, which are unlikely to be repaid.

AO World is due £750,000 for appliances supplied for its kitchen showrooms, and Halfords £9,024.



The retailer also owes an intra-group debt of around £534m to Ark Finco, which is owned by founding partner of its former owner Hilco. Administrator Teneo is seeking legal advice as to the security status of the intra-group debt

In its administration report, Teneo said Homebase had “significant secured and unsecured creditor liabilities and a refinancing or legally binding compromise of its debts was, therefore, not achievable”.

The retailer fell into administration in November after its bank, Wells Fargo, declined to extend a lending facility of up to £95m that was due to end in December over concerns about future trading.

The Homebase brand, intellectual property and up to 70 of its stores were quickly snapped up by The Range and Wilko owner Chris Dawson in a pre-pack deal for £25.6m.

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