Bathstore, Britain’s biggest bathroom retailer, is on the verge of crashing and administrators could be appointed early next week, kbbreview believes.
Hundreds of jobs could be at risk at Bathstore’s 150 nationwide stores and at its head office in Welwyn Garden City, Hertfordshire.
The Bathstore website is still operational and the stores are still trading. Customer service is able to deal with enquires, however kbbreview were not able to get a statement from Bathstore directly.
BDO advisory firm has been cited as being the potential administrators. BDO has declined to comment.
Patrick Riley and Nico de Beer founded Bathstore in 1990. In 2003, builders and plumbers’ merchant Wolseley bought the company who subsequently sold it to Endless LLP in May 2012.
Two years later, in 2014, CEO Gary Favell bought the company as part of a management buyout, which was backed by American billionaire Warren Stephens. At the time of the buyout, Gary Favell said: “With their [Endless] support we have re-established Bathstore as the market leading brand in the sector. With our new partner we will continue bathstore’s growth into the future.”
The current Bathstore CEO is Ian Herett, who took the role in August last year. When Favell stepped down in May 2018 after six years in charge.
The news comes only a couple of months after Better Bathrooms has filed for administration but was rescued by Buy it Direct who bought the firm for an undisclosed sum.
Just in 2019, there have been four other bathroom companies have gone into administration. British Ceramic Tile in January, Astracast sank back into administration in February, supplier of Michel Roux Jnr taps and falls into administration in April, and most recently Mayfair Brassware.
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