Home improvement retailer, Homebase, is up for sale for the second time in four years.

Potential buyers, including B&M and The Range, have already been in early discussions about a deal for the retailer, which has stores in Cheltenham, Gloucester and Stroud, as reported by Retail Gazette.

Hilco Capital, which bought Homebase for £1 in 2018, is reported to have been in talks with several parties about selling the DIY chain.

Hilco bought Homebase from Australian company, Wesfarmers, which had paid £340m for the business just 18 months earlier. Wesfarmers reportedly didn't understand the differences between British and Australian retail and had underestimated the competition from B&Q.

In 2018, Hilco launched a CVA to reduce rents and shut a number of Homebase stores before bringing the business back to profit.

It initially put Homebase up for sale in 2020, in a bid to cash in on the pandemic DIY boom, but failed to find a buyer.