Yours for a pound: The firms sold on the cheap

Yours for a pound: The firms sold on the cheap
 

DIY chain Homebase has been sold for just £1, after its Australian owner Wesfarmers decided to abandon its disastrous foray into the UK.
Wesfarmers paid £340m for the retailer two years ago, but losses and other costs will bring its total bill to about £1bn.
The chain is being bought by restructuring specialist Hilco, which rescued music chain HMV in 2013.
The £1 price tag reflects the company's negligible value, but Homebase is far from being the first firm to be sold for £1 by an owner wanting to ditch a loss-making business.
Here are a few more:
BHS In 2015, Sir Philip Green sold the BHS... read more

 
30 May 2018 in Business, Views: 31
Source: BBC
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