Two Homebase stores in Norwich have gone up for sale following the chain's collapse into administration.

Last Wednesday, the firm appointed administrators and 70 stores were sold to the retail group CDS, which owns The Range - securing the future of up to 1,600 jobs and 70 stores.

The deal follows a previous acquisition of 11 stores by Sainsbury's including the branch in Cromer.

The Homebase store in Hall Road (Image: Google) But now a deadline of November 29 has been set for potential buyers to pursue the remaining 74 stores -  including both the Hall Road and Sprowston branches.

Homebase's collapse follows reports that the banking giant Wells Fargo refused to extend the amount of money they were lending to the DIY chain amid concerns about its financial performance.

READ MORE: Homebase stores in Norfolk at risk amid closure fears

According to reports, the retailer was waiting for around £5 million to be remitted back to it in tax rebates.

Commercial real estate adviser Atlus Group - which represented Homebase - said more than 50 checks, challenges and appeals against the retailer's property tax liabilities were outstanding upon its collapse.

The Homebase store in Sprowston  (Image: Google) The company wanted to reduce the overall rateable value of its store portfolio by £5.7 million.

Alex Probyn, president of property tax at Altus Group, said: “The appeal process is just far too slow and ultimately damaging to cash flow.

“With business now facing the biggest tax increases in three decades, the 2023 tax base must be corrected quickly to ensure that ratepayers not only receive their rebates timely but also have the confidence that their bills have been set fairly.”