Eighty-nine Bathstore head office and support staff have been made redundant after the multichannel retailer went into administration. Administrators said the business had struggled in a difficult environment for retailers. The environment has been marked by a combination of uncertainty around Brexit and consumers’ increasing willingness to buy online in a competitive market.
The jobs have been lost after administrators Ryan Grant and Tony Nygate, of BDO, made an initial review of the business following their appointment yesterday, and decided to stop all installations. Those who have lost their jobs are among a total workforce of 531 people, based both at the retailer’s head office and stores. Bathstore, based in Welwyn Garden City, has 135 stores across the UK and sells online at bathstore.com.
Administrators are now trading the business with a view to selling it as a going concern.
Grant, business restructuring partner at BDO, 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. 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 contacted directly but can also find information on the company’s website: www.bathstore.com”.
Administrators said support was being given to staff who have lost their jobs. Those interested in acquiring the business can get in touch at BSCOM@bdo.co.uk.
Bathstore is a Top250 retailer in IRUK Top500 research.
Image: Screenshot of Bathstore.com/InternetRetailing Media