The Homebase brand has been sold to The Range owner Chris Dawson, but around 49 stores and 2,000 workers remain at risk

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,

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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.

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.