A rescue deal to save around 70 Homebase outlets from closure is still expected to result in the loss of hundreds of jobs. The DIY retailer, which has eight stores in Northern Ireland, is reportedly lining up insolvency practitioners at the Teneo consultancy,

Plymouth retail mogul Chris Dawson has rescued Homebase after it collapsed into administration - saving 1,600 jobs. Mr Dawson’s company CDS Superstores, owner of The Range and Wilko, acquired the Homebase brand name, intellectual property, and up to 70 of its UK stores.

The Range will take over and eventually rebrand about 70 Homebase stores in a pre-pack deal. However 1,600 jobs are expected to be lost by Homebase’s failure. The Range is also taking over Homebase’s brand and ecommerce business, and will take on around 1,600 of the DIY chain’s employees.

Staff at DIY chain Homebase and its customers have been issued advice as the so called ‘Del Boy billionaire’ behind The Range edged closer to a rescue deal. It emerged this morning that Chris Dawson is in talks to snap up around 70 Homebase stores as part of a pre-pack administration.

A deal by businessman Chris Dawson (pictured) - owner of The Range chain of discount stores - involved only 70 of Homebase's 130 stores.

Sky News has learnt that administrators are being lined up to handle a pre-pack sale of scores of Homebase stores amid hopes that a significant number of the company's remaining jobs can be salvaged.