British furniture retailer Habitat is expected to announce that all 33 of its UK stores are to be disposed of after the retailers owners, Hilco, refused to shoulder further losses from the struggling chain.
The break up will see three London based stores purchased by Homebase owners, Home Retail Group (HRG), whilst the remainder are placed in administration.
HRG will also acquire the Habitat brand as part of a deal valued between £20-£30m.
Established by Sir Terence Conran in 1964 the stores were pioneers in bringing contemporary interior and furniture designs to the masses.
Habitat’s international operations, which are performing strongly, will be unaffected by the move.