HHGL Limited and Hampden Group Limited – trading as Homebase – in administration: information for employees and creditors
Published 15 November 2024
HHGL Limited and Hampden Group Limited – trading as Homebase – have been placed into administration.
The decision to enter administration was made by the companies’ boards of directors after they concluded that there was no reasonable prospect of the companies avoiding insolvent liquidation.
The administrators are Simon Thomas, Daniel Smith and Robert Harding of Alvarez & Marsal Europe LLP.
What does this mean for employees?
All employees have been made redundant with immediate effect. The administrators will be working with the Redundancy Payments Service to ensure that all employees receive the redundancy payments they are entitled to.
Employees who are members of the Homebase Pension Scheme should contact the scheme trustees for advice on their benefits.
What does this mean for creditors?
The administrators will be writing to all known creditors shortly to provide them with more information about the administration process.
Creditors can also find more information on the administrators’ website: www.alvarezandmarsal.com/
What is administration?
Administration is a legal process that is used to protect a company from its creditors while it tries to restructure its debts and continue trading.
When a company is placed into administration, an administrator is appointed to take control of the company’s assets and affairs. The administrator will work with the company’s management to try to save the company as a going concern.
If the administrator is unable to save the company, it will be liquidated. This means that the company’s assets will be sold off and the proceeds will be used to pay off the company’s debts.
Further information
Further information about the administration process can be found on the GOV.UK website: www.gov.uk/government/publications/administration-what-it-means-for-you
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