Bathstore crashes into administration

bathstore

Bathstore.com has collapsed into administration following years of tough trading conditions, putting hundreds of jobs at risk.

Administrators from BDO has said the specialist bathroom retailer – which has 135 stores –will continue to trade while a sale is explored.

If a buyer can’t be found 531 staff jobs across its stores and head office will be on the line.

Bathstore’s latest account showed a pre-tax loss of £22m on sales of £141m in the year to July 31, 2017.

The group’s owner American billionaire Warren Stephens provided a £15m loan and extended the maturity of previous loans until the end of July but is unwilling to inject more cash into the business.

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