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Wesfarmers sells UK former Homebase business it bought for £340m for £1

Australia’s Wesfarmers has admitted defeat and sold its Bunnings Warehouse chain in the UK and Ireland – the former Homebase chain it bought in 2016 for A$705m (£340m) - for £1 to restructuring group Hilco Capital.
CoStar News
May 25, 2018 | 12:38 P.M.

The company said on Friday it was selling the DIY retail chain business, comprising 240 Homebase stores and 24 pilot Bunnings outlets, and all will be converted back to Homebase stores under Hilco's ownership.

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