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UPDATE: Habitat in administration after selling brand rights to HRG

Published: 24 June 2011
Home furnishings group Habitat has been bought by Home Retail Group (HRG) in a multi-million pound deal.
UPDATE: Habitat in administration after selling brand rights to HRG
The group, which owns Homebase and Argos, confirmed today that it is has acquired Habitat's brand designs, UK website and intellectual property, as well as three London stores, for £24.5m.

The stores are in Tottenham Court Road, Kings Road and Finchley Road.

The chain's remaining 30 UK stores have entered administration. A report by the BBC said HRG will offer jobs to many of the 900 Habitat staff affected.

HRG chief executive Terry Duddy said: "The style led credentials of the Habitat brand, with its strong heritage, will be a significant addition to the group's portfolio of own brands. In addition to operating the three London stores and the UK website, we will introduce Habitat products across the group including a number of concessions in Homebase stores. We will also look to develop the online proposition leveraging the award-winning multi channel strength of Home Retail Group."

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