HomeBase
In today's world, HomeBase has become a topic of great relevance and interest to a wide variety of people. From its impact on society to its implications on daily life, HomeBase has captured the attention of individuals of all ages and backgrounds. As we delve into this topic, it is crucial to explore its different aspects, from its origins to its evolution over time. In this article, we will analyze in detail HomeBase and its implications in various areas, with the aim of providing a complete and in-depth vision of this topic that is so relevant today.
 | This article includes a list of references, related reading, or external links, but its sources remain unclear because it lacks inline citations. (April 2011) |
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| Company type | Public |
|---|---|
| NYSE: HBI | |
| Industry | Retail |
| Founded | January 12, 1983 |
| Defunct | 19 March 2002 (19 years, 2 months and 7 days) |
| Fate | Chapter 11 Bankruptcy Liquidation |
| Headquarters | Irvine, California |
| Products |
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HomeBase was a home improvement warehouse chain in the Western United States based in Irvine, California.
History
Robert J. McNulty and George Handgis founded the chain as a warehouse club called the HomeClub, opening the first two stores in Norwalk and Fountain Valley, California, in 1983. It went public in 1985, trading on the New York Stock Exchange under the symbol HBI.
In 1985, it was acquired by Zayre, a Framingham, Massachusetts-based discount department store chain. After Zayre was acquired by Ames, HomeClub was spun off under a new company called Waban Inc., which also owned BJ's Wholesale Club. In 1991, it discontinued its membership program and adopted the HomeBase name shortly thereafter.
The chain expanded to 89 stores by the mid-1990s, becoming the sixth largest home improvement retailer in the United States. Although it outperformed competitors like Orchard Supply Hardware and Builders Square, it could not match the growth or pricing power of The Home Depot or Lowe's. On December 5, 2000, after several dramatically unprofitable years, it announced that 67 stores would be converted to a home decorating superstore chain, House2Home, and the remainder closed. House2Home would fare no better, filing for Chapter 11 bankruptcy on November 7, 2001, and ceasing operations by early 2002 after 19 years of service.
References
- Susan, Deemer (August 2, 1999). "Hardware wars heating up in Los Angeles, Orange Counties". Los Angeles Business Journal. Archived from the original on February 4, 2012 – via AllBusiness.
- Canlen, Brae (January 8, 2001). "HomeBase seeks new shelter from competitive storm". Home Channel News. Archived from the original on March 16, 2011 – via Find Articles at BNET.
