The Buy it Direct Group, one of the UK’s leading online appliance, IT and home retailers, has turned around bathroom retailer, Better Bathrooms from administration to being a profitable company in six months, since acquiring the business in March this year.
The news comes following the acquisition on 18 March 2019 by the Buy it Direct Group, which also owns popular retail websites such as AppliancesDirect.co.uk, LaptopsDirect.co.uk and furniture123.co.uk.
In six short months since the acquisition, Buy it Direct have swiftly turned the business around to be a profitable company.
Administrators closed all bricks and mortar stores, which meant Buy it Direct turned the business into a fully online model, operating from a central distribution hub.
Buy it Direct were able to save the jobs of 25 Better Bathrooms employees, all of whom are still employed and working on the brand. Due to the rapid growth of the acquisition, Buy it Direct are looking to recruit a further 25 members of staff to join the Better Bathrooms team. Buy it Direct has announced plans to beat Better Bathroom’s £50m peak revenue, within two years of the acquisition.
BetterBathrooms.com – an InternetRetailing Growth 2000 company – currently has more than 2000 lines listed on its website, ranging from clearance stock at fantastic prices, to new season ranges, amongst other hidden gems.
Nick Glynne, managing director at Buy it Direct Group, explains: “We are delighted to have acquired Better Bathrooms, which has great credentials within the bathroom and trade sectors, bringing further specialisms under the Buy it Direct umbrella.”
Glynne continues: “This acquisition is key to the continued growth of Buy it Direct, and allows us to maintain our position within the e-commerce market. We anticipate BetterBathrooms.com will become a real growth market for the group, as we establish ourselves as the go-to supplier of bathroom fittings and accessories.”
He concludes: “Our revenue trajectory shows that if we continue at our current pace, we will have taken BetterBathrooms.com from administration to smashing their peak revenue of £50m within two years.”
The Buy It Direct group operates websites specialising in kitchen appliances, TVs, laptops, servers, flat-pack furniture and drones.