Bathstore, the UK’s largest specialist bathroom retailer, has collapsed into administration this afternoon.
The future for more than 500 jobs and roughly 135 stores lies in doubt as administrators said today they are looking to sell the business.
Ryan Grant and Tony Nygate of BDO’s restructuring unit have been appointed joint administrations.
BDO business restructuring partner Ryan Grant said: “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.”
He added: “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.”
The business, based in Welwyn Garden City, said it was expecting to satisfy the majority of outstanding customer orders, with the support of key stakeholders.
However, all installation services have stopped with immediate effect.