Turnaround funds eye UK’s Homebase

MILTON KEYNES, England — Several turnaround investors are mulling plans to take over troubled DIY banner Homebase amid growing speculation that parent Home Retail Group is getting ready to put it on the auction block. Homebase’s 360 stores have struggled for years to keep up with rival B&Q, and some 70% of Home Retail’s profits are from catalogue retailer Argos. The appointment of John Walden this year as group CEO fed rumours of a sale when he announced a full-scale review of the company, according to the Telegraph.