HomeBase
For the UK garden centre, see Homebase.HomeBase was a
home improvement warehouse chain in the
Western United States based in
Irvine,
California.
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
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 and filed for
Chapter 11 bankruptcy and was subsequently liquidated in early
2002.
* "
Hardware wars heating up in Los Angeles, Orange Counties,"
Los Angeles Business Journal,
August 2,
1999* Canlen, Brae, "
HomeBase seeks new shelter from competitive storm,"
Home Channel News,
January 8, 2001.
