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 Post subject: Homebase sale-total con
PostPosted: Sun Sep 30, 2018 2:38 pm 
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As many off you know a lot of Homebase stores are closing down. I feel sorry for the staff but nothing much I can do about it.

They advertised this morning with stuff UP TO 50% OFF. So I thought I'd take a gander on my way home from Glasgow and realised how much of a con it is but many are lapping it up :shock:

I saw an Irwin pull saw with 10% off, I googled it on my phone and Screwfix were still cheaper after the discount :lol: The same with a Stanley mini pull saw and a 4 in 1 hammer. I left after ten minutes but saw loads with their trolley full of tools. I saw a guy buy a huge tool chest at 10% off. I think the original price was over £800. A quick google and I found the same at £600.

The gullibility of people never ceases to amaze me.

I might pop back in November when they're really trying to sell stuff at discount :lol:

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PostPosted: Sun Sep 30, 2018 6:07 pm 
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Homebase were bought for £1 by Hilco who are American in origin although Hilco Europe bought Homebase. They are asset strippers specializing in retail, they are likely to strip the business down to the minimum cost wise to turn it round financially into a clean shell. They will syphon off cash and load with their own debt then screw all other creditors inc landlords and staff.

Immediately they took over they reduced the discounts on offer across the board in the regional discount centre near me which is closing so effectively putting the price up. They do this because they know if you put closing down sale signs up kleptomaniac people come and buy irrespective of what the price is.

I bought fixings at 75% discount on an already discounted price a few months ago they are now up to 30% and are more expensive than every where else. The only time there will be bargains is on the last day of trading at the shops that are closing. Hilco will move stock around or sell to the trade if they think they can get a better price

Once they have cleaned it up financially they will sell it on to someone anybodies guess, maybe Home Depot will move in to uk

Wesfarmers lost over $1billion on Homebase in about 2 years

Sainsburys appear to be the winners in all this they sold Homebase for £969m in 2002 The other bidder against Wesfarmers for Homebase in 2016 was Argos subsequently Sainsburys bought Argos for £1.4billion last year.

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PostPosted: Sun Sep 30, 2018 8:44 pm 
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it has to say somthing like "genuine"sale or somthing like that
sale is word like a diet or hoover on its own has one single meaning but people think it cover other areas
diet means what you eat nothing more nothing less
sale means to sell
hoover is just the name off a manufacturer :lol:

we are all ------------------still learning

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