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HomeBase was a Home Improvement Warehouse Chain in the Western United States based in Irvine , California . HISTORY 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 had expanded to 89 stores by the mid- 1990s , becoming the sixth largest home improvement retailer in the U.S. Although it outperformed competitors like Orchard Supply Hardware and Builders Square , however, 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, liquidating in early 2002 . REFERENCES
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