Bathroom retailer Bathstore has collapsed, placing more than 500 jobs at risk, following several months of ‘difficult trading’. BDO has been appointed administrators while the company tries to find a buyer. Bathstore will continue trading ‘with a view to exploring a sale as a going concern,’ stated BDO.
Ryan Grant, BDO business restructuring partner, stated: “Despite significant investment into the business over the past five years, Bathstore has struggled to overcome the well-documented challenges facing the UK retail sector. The appointment was made after several months of difficult trading, and the failure of ongoing talks to find a buyer for the business. Bathstore is continuing to trade in administration, whilst the administrators seek a buyer. Subject to available stock, Bathstore is expecting to be able to satisfy the majority of outstanding customer orders, with the support of key stakeholders. However, all installation services have ceased with immediate effect.”
Customers will be able to still receive their orders as DHL has agreed a deal with Bathstore’s administrators. A spokesperson for DHL Supply Chain said: “Following discussions with the administrators we have agreed to continue providing delivery services to Bathstore while efforts continue to find a buyer.”
Bathstore employs 531 people across its 135-strong store network and at its Welwyn Garden City head office. The company joins a list of casualties in the retail sector: a consequence of weak consumer confidence and high costs such as business rates and wages.
More at: www.bathstore.com
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