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Rapid sell-off of Bunnings UK expected

Two years ago, Wesfarmers took over the British Homebase chain and started to remodel these stores according to the Bunnings warehouse format.

Two years ago, Wesfarmers took over the British Homebase chain and started to remodel these stores according to the Bunnings warehouse format.

Wesfarmers is reported to have asked potential buyers of its British and Irish Homebase and Bunnings stores to submit initial takeover bids, according to the online service of Sky News. The Australian retail group is said to be seeking a swift exit from its operation in Great Britain and Ireland. It intends to offer the purchaser a "huge dowry" to help deal with the high financial losses incurred by the business. At the same time, restructuring specialist Alvarez & Marsal is working on alternatives to a sale.

|24 April 2018


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