Australia’s retail giant Wesfarmers on Friday walked away with its tail between its legs after it was forced to sell DIY chain Homebase for just £1, ending its calamitous two-year foray into the UK.

Australia's Wesfarmers has sold its ailing British business Homebase for £1 (US$1.35), it said Friday, having racked up huge losses with the DIY chain it bought just two years ago for £340 million.

Wesfarmers ended its disastrous foray into the home-improvement market in Ireland and Britain, selling its Homebase chain for a pound and announcing a further 406 million Australian dollar loss on the ...

Last year the retail park veteran announced it was to close 42 of its stores across the UK, as it joined a string of high street retailers facing uncertainty. This was its second batch of store ...

Homebase has about 250 stores and 11,500 staff in the UK and was sold for £1 last month Homebase is to cut 303 jobs at its store support centre after the chain was bought by a restructuring company.

The Australian owner of Homebase sold the DIY chain for just £1 yesterday – taking its losses since buying the firm two years ago to nearly £740 million. In a humiliating retreat from the UK, ...

Homebase has launched its first advertising campaign since revamping its marketing strategy following a tumultuous few years for the retailer. Last year the retail park veteran announced it was to ...

HOMEBASE’S £1.99 car gadget keeps your motor free of rubbish & spotlessly clean. Motorists have called the item “brilliant” and it’s simple to use – and ...