Bathstore administration: 500 jobs at risk with 132 stores set to close
The administration means more than 500 jobs are at risk with around 400 shop workers and 124 based in the company’s head office in Welwyn Garden City at risk.
The company has been loss making after a poor year, which has been attributed to the tough high street retail economy and the collapse in the pound.
29 year old business
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Hide AdThe bathroom specialists were set up in 1990 by Patrick Riley and Nico de Beer, but have been owned by American billionaire Warren Stephens since 2014.
In the financial year ending July 2017 the company made a pre-tax loss of £22m with sales of £141m according to Companies House.
Despite a turnaround plan launched last year and a £15m loan from Stephens, the Guardian reported the billionaire was not willing to put in any more cash to save the business prior to this month’s rent day.
No offers for the company
Ryan Grant, the joint administrator, 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."
Customers will be contacted with the majority of outstanding orders due to be fulfilled. All installation services have been cancelled.
No offers have been made for the business as of yet.
The Bathstore branches at risk are listed below:
East Anglia
Cambridge
Huntingdon
Ipswich
Norwich
Peterborough
East Midlands
Bedford
Burton On Trent
Leicester
Lincoln
Northampton
Nottingham Bridgeford
Nottingham Commodore
Greater London
Beckenham
Croydon
Enfield
Ilford
Kingston Upon Thames
Orpington
Ruislip
Southgate
Staines
Surbiton
Sutton
Walton-On-Thames
London
Borehamwood
North Finchley
Wandsworth
Finchley Road
Hammersmith
Islington
Clapham South
Baker Street
Vauxhall
Eltham
Richmond
Wandsworth
Wimbledon
North
Barnsley
Carlisle
Chesterfield
Doncaster
Gateshead
Grimsby
Harrogate
Huddersfield
Hull
Leeds
Newcastle Upon Tyne
Scunthorpe
Sheffield
Shipley
Stockton
York
North West
Bolton
Burnley
Bury
Cheshire
Chester
Crewe
Eastham
Lancaster
Liverpool
Sale
Southport
St Helens
Stockport
Warrington
Wigan
Scotland
Aberdeen
Ayr
Dundee
Edinburgh
Glasgow Clarkston
Glasgow Central
Inverness
Perth
Stirling
South East
Ashford
Aylesbury
Banbury
Basildon
Basingstoke
Bognor Regis
Braintree
Brighton
Camberley
Canterbury
Chelmsford
Crawley
Dartford
East Grinstead
Eastbourne
Farnborough
Fleet
Grays
Guildford
Harlow
Haywards Heath
Hemel Hempstead
High Wycombe
Hitchin
Horsham
Luton
Maidstone
Milton Keynes
Newbury
Oxford
Portsmouth
Reading central
Reading The Point
Redhill
Slough
Southampton
Southend
St Albans
Thanet
Tunbridge Wells
Waterlooville
Winchester
Worthing
South West
Bath
Bournemouth
Bristol Filton
Bristol Clifton
Cheltenham
Chippenham
Christchurch
Exeter
Gloucester
Plymouth
Saint Austell
Swindon
Taunton
Weymouth
Wales
Bangor
Cardiff
Cardiff Penarth
Newport
West Midlands
Birmingham
Cannock
Hereford
Leamington Spa
Newcastle Under Lyme
Nuneaton
Redditch
Solihull
Stafford
Stourbridge
Stratford Upon Avon
Sutton Coldfield
Worcester