Admit when you're wrong

[Zak33]

The Aussie based company that purchased Homebase two years ago has put it's cards on the table...

https://uk.reuters.com/article/uk-we...-idUKKBN1FO0T3

A lot of the underlying causes of the losses we’ve reported today have been through our doing,

and

self enduced blunders

Hey... best to fess up

quite a big pill to swallow though......

ironic really as the also own Bunnings... and I do like a trip to Bunnings

[b0redom]

All of the Homebases around me have shut up shop and are part way through conversions to Bunnings stores...

[DR]

It's okay - you will keep them in biz Zakky

[Zak33]

It's okay - you will keep them in biz Zakky

i DO love a trawl through bunnings I admit it

[CAT-THE-FIFTH]

Homebase is owned by Aussies? Wut? Bunnings?

How did I miss any of this?

[peterb]

I rarely go to Homebase, and B&Q isn’t what it was (and no where near as good as the French equivalent)

Intend to go to Screwfix (owned by the B&Q group but much better value for money) or Toolstation (started - iirc- by the guys that stated Screwfix)

[Smudger]

Our local Bunnings has been open for a year (first one in the UK), and always seems to be busy. I must admit, I do like a good trawl, and my son seems to like a visit, mainly because there's a soft play area, but also cos he likes the gardening stuff. SO far he wants a big play shed/swing set for him (£1200) and a huge hot tub for mummy and daddy (£6,450). All good for me, but might need to encroach on the neighbours' gardens to fit it all in. "It's OK, Daddy, just get rid of your shed". I don't think he knows what he's saying.

[CAT-THE-FIFTH]

They are closing 20 to 40 Homebase stores,that's brutal.

[virtuo]

Intend to go to Screwfix (owned by the B&Q group but much better value for money) or Toolstation (started - iirc- by the guys that stated Screwfix)

One of those guys must be the genius who thinks sending 3 trees worth of catalogues to me every month is going to see me buy another pair of safety goggles.

I thought Homebase was owned by Argos? I used to get all my wallpaper from there 'til they closed my local branch.

[peterb]

It used to be owned by Sainsburys (who I think now own Argos) but it was sold quite a while back.

[CAT-THE-FIFTH]

Argos are not as good as they used to be after Sainsburys bought them - deffo don't buy a TV from them!!

[Butcher]

I rarely go to Homebase, and B&Q isn’t what it was (and no where near as good as the French equivalent)

Intend to go to Screwfix (owned by the B&Q group but much better value for money) or Toolstation (started - iirc- by the guys that stated Screwfix)

I prefer screwfix, or even just Amazon these days. B&Q have a poor range and they're often overpriced (apart from their own brand stuff).

[Ttaskmaster]

What?
An Australian company invests in a UK one, and then leaves it utterly stuffed?
Wow, what a novel concept. Never would have thought of that....


Macquarie did something similar to us recently.

[Andeh13]

Our local Homebase got noticeably cheaper after they were bought out, but in exchange their stock levels were appalling low/non existant. I presumed they had turned it into a Pound Land/Aldi type model where they only buy if it is cheap enough, otherwise they don't stock it until it is. Maybe it was just bad management of stock levels?

[Biscuit]

Homebase and B&Q both closed in my town, now have a Wickes and a B&M... competition is a bit of a tough one for them as its right near a huge family owned farm and DIY store which is very popular with locals.

[Ferral]

We had 2 near us, one at the Arnison Center at Durham and another at Team Valley Gateshead. Arnison Center one dissapeared virtually overnight last year but the Team Valley one is still there. The Team Valley one used to also have an Argos in it and they accepted Nectar Card when buying stuff. Apparently the Argos group had taken them over a few year ago but obviously that fell through so assuming it is now owned by the new company you are talking about here.

We have been using B&Q more recently for the renovations in the house, we did used to like Homebase though for the summer garden stuff and their Christmas range was always good.

We do have a Maxwells DIY though round the corner from us, these are a smaller business and really cheap.