London (AFP)-Home Retail Group in Britain on Friday said it had bought the brand Habitat UK and three of his London furniture stores for £ 24.5 million from private equity firm U.S. Hilco.
HRG, which owns the chain Argos and Homebase chain home improvements, has agreed to pay the equivalent of 39 million or 27.5 million after the exclusive Habitat chain was placed in administration in order to save it from bankruptcy.
"Home Retail Group (HRG) today announces that it has agreed to acquire certain rights to the brand Habitat, one of the main contemporary House United Kingdom dealers," it said in a statement.
"Rights are for the exclusive use of the mark, his designs of the brand and intellectual property in the United Kingdom and Republic of Ireland.
"In addition, Home Retail Group is also acquiring the site Habitat UK, three of its stores in London and some helper functions."
At the same time, Habitat UK has applied to go into administration-the process by which a troubled company invites independent financial aid in an attempt to restructure the business and remain operational.
The announcement threatens the chain 30 other shops in Britain and about 900 jobs.
Separately, Hilco said it was in "Advanced" talks over the sale of the business Habitat outside of Britain.
The profitable European Division includes 27 stores in France, five in Germany and six in Spain, with franchise agreements in Belgium and Luxembourg.
Habitat established by designer Terence Conran in 1964, represented image young and fashionable of London in the 1960s with a range of pastel colours and products based on his designs.
"The credentials of style led brand Habitat, with its strong, will be a significant addition to the Group's portfolio of brands", HRG CEO Terry Duddy said on Friday.
"In addition to operating the three stores in London and the UK Web site, we will introduce products Habitat throughout the group, including a number of concessions Homebase stores."
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