Editing Homebase (section)

===Wesfarmers ownership===
On 18 January 2016, it was announced that Australian retailer Wesfarmers, owners of Australia's leading hardware store Bunnings, would acquire Homebase for £340&nbsp;million, subject to shareholder approval.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-35340384 |title=Homebase bought by Australia's Wesfarmers for £340m |work=BBC News |date=18 January 2016 |access-date=18 January 2016}}</ref> The transfer of ownership to Wesfarmers took place on 27 February 2016<ref>{{cite news|last1=Neilan|first1=Catherine|title=Homebase to be rebranded Bunnings after Wesfarmers completes £340m acquisition from Home Retail Group – now what's happening with Argos?|url=http://www.cityam.com/235594/homebase-to-be-rebranded-bunnings-after-wesfarmers-completes-340m-acquisition-from-home-retail-group-now-whats-happening-with-argos|access-date=29 February 2016|work=[[City AM]]|date=29 February 2016}}</ref> and afterwards Peter Davis was appointed Managing Director, succeeding Echo Lu.<ref>{{cite news|last1=Appleby|first1=Matthew|title=Bunnings pilots will create key opportunities for suppliers|url=http://www.hortweek.com/bunnings-pilots-will-create-key-opportunities-suppliers/retail/article/1411798|access-date=28 October 2016|work=Horticulture Week|date=14 October 2016}}</ref>

Wesfarmers announced in June 2016 that it had cancelled the plans by Home Retail Group to close seven stores, and would seek to prevent the closure of eleven others. It described the closure of five additional stores as "unavoidable".<ref>{{cite news|last1=Misiri|first1=Talya|title=Wesfarmers to save up to 700 Homebase jobs|url=http://www.retailgazette.co.uk/blog/2016/06/wesfarmers-to-save-up-to-700-homebase-jobs|access-date=28 October 2016|work=Retail Gazette|date=23 June 2016}}</ref> It was also announced that [[Archie Norman]] was to advise on the turnaround of Homebase under Wesfarmers.<ref>{{cite web|url=https://www.telegraph.co.uk/business/2016/06/22/archie-norman-returns-to-uk-retail-with-homebase-revival/|title=Archie Norman returns to UK retail with Homebase revival|work=The Telegraph|date=22 June 2016|access-date=1 October 2016|first=Ashley|last=Armstrong}}</ref>

[[Laura Ashley (company)|Laura Ashley plc]] confirmed in October 2016 that it would remove its concessions trading in 22 Homebase stores by the second quarter of 2017, as Wesfarmers sought to remove all concessions and adopt the same business model as its Australian and New Zealand business.<ref>{{cite news|last1=Greenblat|first1=Eli|title=Wesfarmers revamps UK hardware chain by ditching Laura Ashley|url=http://www.theaustralian.com.au/business/companies/wesfarmers-revamps-uk-hardware-chain-by-ditching-laura-ashley/news-story/f53e4017bded31f2f58e82b0c7e07028|access-date=28 October 2016|work=The Australian|date=25 October 2016}}</ref>[[File:Bunnings Warehouse Weston super Mare (3 to 1 crop).jpg|thumb|A branch in [[Worle]], Somerset that had been converted from Homebase to the Bunnings Warehouse format.|alt=]]The company moved its headquarters within [[Milton Keynes]] in December 2016, from premises previously shared with former sister company Argos.<ref>{{cite news |last1=Hardy |first1=Emily |date=31 October 2016 |title=Homebase to split from Argos with new headquarters |url=https://www.retail-week.com/sectors/home-and-diy/homebase-to-split-from-argos-with-new-headquarters/7013427.article |access-date=1 November 2016 |work=Retail Week}}</ref>

Following the sale to Wesfarmers, Homebase left the Nectar scheme on 31 December 2016.<ref>{{cite news |date=8 June 2016 |title=Homebase to leave Nectar points scheme at end of 2016 |url=http://home.bt.com/lifestyle/money/money-tips/homebase-to-leave-nectar-points-scheme-at-end-of-2016-11364066728918 |access-date=28 October 2016 |publisher=BT |agency=Love Money}}</ref>

Bunnings confirmed in November 2016 that the Homebase store in [[St Albans]] would be the first to be re-branded as [[Bunnings|Bunnings Warehouse]] as part of a trial, and opened in February 2017.<ref>{{cite news|title=Bunnings DIY store opening causes Aussie sizzle|url=https://www.bbc.co.uk/news/uk-england-beds-bucks-herts-38842021|access-date=9 February 2017|work=BBC News|date=2 February 2017}}</ref> An additional three were planned to be opened by June 2017, with up to six more completed by the end of the year.<ref>{{cite news|title=Bunnings unveils pilot store plans to BHETA members|url=http://www.housewareslive.net/bunnings-unveils-pilot-store-plans-to-bheta-members|access-date=12 November 2016|work=Housewares Live|date=8 November 2016}}</ref> The stores adopted a low-cost warehouse model.<ref>{{cite news|last1=Appleby|first1=Matthew|title=Homebase looks ahead to future renamed as Bunnings|url=http://www.hortweek.com/homebase-looks-ahead-future-renamed-bunnings/retail/article/1408376|access-date=28 October 2016|work=Horticulture Week|date=9 September 2016}}</ref>

In February 2018, Wesfarmers reported losses relating to the takeover of £57&nbsp;million in the year to June 2017, and stated that it would begin a review of the business.<ref>{{cite news|last1=Butler|first1=Sarah|title='Botched' Homebase takeover puts hundreds of jobs at risk|url=https://www.theguardian.com/business/2018/feb/05/botched-takeover-threatens-homebase-bunnings-jobs|access-date=9 April 2018|work=The Guardian|date=5 February 2018}}</ref> Wesfarmers sought buyers for the business in March,<ref>{{cite news|last1=Withers|first1=Iain|title=Homebase owner seeks buyers as DIY chain turnaround flounders|url=https://www.telegraph.co.uk/business/2018/03/31/homebase-owner-seeks-buyers-diy-chain-turnaround-flounders/|access-date=9 April 2018|work=The Telegraph|date=31 March 2018}}</ref> and by May, had received bids from restructuring firms Alteri Investors and [[Hilco Capital|Hilco]].<ref>{{cite news|last1=Espinoza|first1=Javier|title=Potential bidders emerge for Homebase|url=https://www.ft.com/content/df130b06-5e9f-11e8-ad91-e01af256df68|access-date=23 May 2018|work=Financial Times|date=23 May 2018}}</ref>