RETAIL giants Homebase are on the brink of administration, putting seven Scots branches at risk.
However, a “Del Boy Billionaire” could be preparing a last second bid to save the struggling business.
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Seven Scots outlets are at risk of collapse, with the homeware experts ready to appoint administrators to help get their affairs in order.
Stores in Glasgow, Edinburgh, Dumfries, Dunfermline, Glenrothes, Hamilton, and Oban could all go out of business if they are not saved.
Hundreds of jobs could be lost if they cannot find a resolution.
However, there could be a last ditch attempt to revive some of the struggling branches, with a billionaire waiting in the wings.
Chris Dawson, who owns The Range, is considering buying up to 70 stores as part of a pre-pack administration.
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This is an insolvency process for a business to sell its assets before appointing administrations.
Mr Dawson, who has been branded the “Del Boy Billionaire”, told The Telegraph: “We are delighted to be able to save so many stores and jobs, and look forward to adding the Homebase brand and subsidiaries to the expanding Range group of companies.”
It is expected that Homebase will appoint administrators Teneo to handle the insolvency process and attempt to revive the struggling organisation.
With 130 branches across the UK, the potential takeover would save over half of Homebase branches in the country.
It is not yet clear which branches would be saved, but it is believed it would potentially save around 1,500 jobs.
But 58 stores would still remain at risk of closing for good.
The administrators will then seek buyers for the remaining Homebase stores once the formal administration process has begun.
Other retailers that have previously shown an interest in Homebase include B&M, the London-listed discount store.
Homebase currently operates around 144 locations across the UK.
It comes after Sainsbury’s revealed it had bought ten Homebase stores with plans to convert them into supermarkets.
Sainsbury’s plans to open the first of these new stores by next summer, marking a significant expansion for the supermarket chain.
The acquisition of the stores and refit programme to follow is expected to cost Sainsbury’s £130million.
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