A retail tycoon branded the ‘Del Boy billionaire’ is poised to rescue dozens of Homebase stores as the DIY retailer prepares to go into administration. Homebase has engaged consultants to find a new buyer, putting over 100 stores and thousands of jobs across the UK at risk, according to The Times.

A retail tycoon nicknamed the “Del Boy billionaire” is on the cusp of a deal to rescue scores of Homebase stores as the DIY chain calls in administrators.

Staff at Homebase have been issued advice as the so called 'Del Boy billionaire' behind The Range edged closer to a rescue deal.

Former market trader Chris Dawson, founder of bargain chain The Range, is reportedly in pole position to snap-up dozens of Homebase stores if the business goes into administration

A deal by businessman Chris Dawson (pictured) - owner of The Range chain of discount stores - involved only 70 of Homebase's 130 stores.

A discount store owner described as a "Del Boy billionaire" has stepped in to save Homebase, the popular DIY and garden retailer, from the brink of collapse.

DIY chain Homebase has plunged into administration - but up to 70 stores will be bought by the firm behind The Range. Yet fears remain over 2,000 jobs at the stores that are left

The deal to save Homebase by Chris Dawson, whose company CDS Superstores acts as parent company to The Range, was confirmed this afternoon by administrator Teneo.