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Bathstore on brink of collapse, with 700 jobs and 168 branches at risk

Sky News and The Guardian have both reported that Bathstore, the UK’s largest specialist bathroom retailer, is close to appointing administrators.

Both state that accountancy firm BDO has been lined up to handle the potential administration process, with Sky News stating that a notice of intention to appoint administrators is likely to be filed next week.

The Guardian reports that Bathstore’s owner – a US investment company – is not prepared to invest more money into the business ahead of this month’s rent day, unwilling to put in more cash to save the business ahead of this month’s rent day.

At the time of writing, BDO had not commented on the matter.  It is understood that Bathstore could not be reached for comment.

Bathstore currently operates around 168 stores and is thought to employ around 700 members of staff.

Reports surfaced in December 2018 that the company was exploring a sale of

Filings at Companies House show that both Bathstore Group Ltd and Bathstore.com both extended their accounting periods in April 2019.

In May 2018, Ian Herrett replaced Gary Favell as CEO, after he stepped down after nearly six years at the helm.

We will update this story as we hear more.

Source: Insight DIY Team

 


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