DIY retailer B&Q is set to buy Homebase at Leamington Shopping Park as part of a deal worth £2.5 million.

Five Homebase stores are being bought by the national chain and are expected to reopen under the new banner by the end of 2025.

As well as the Myton Road site, Altrincham in Greater Manchester, Basingstoke in Hampshire, Biggleswade in Bedfordshire, and Worcester in Worcestershire are also included.

Staff at the sites are expected to be offered roles as B&Q employees.

A closing down sale is well underway at the Homebase store at Leamington Shopping Park.

Hilco, owner of the DIY retailer announced in November administrators had been appointed for the company and 70 UK stores had been sold to owner of The Range.

The news left a further 49 stores under threat.

B&Q's agreement for the stores is subject to landlord approvals, with the expectation that the transactions will complete in the first quarter of 2025/26.

Graham Bell, CEO, B&Q, said: “We’re delighted to be buying these five stores, bringing a total of eight additional sites to our fantastic store network in the UK and Ireland. We’re determined to give home improvers the choice and convenience they deserve, and to transform the home improvement stores in these locations to fulfil that need.

“It’s a great way to be starting 2025! We look forward to swiftly concluding these purchases and converting the stores to the B&Q brand and offer, and to welcoming our new customers to the stores and new colleagues to the B&Q family.”