Bathstore, the specialist in bathroom retail has recently collapsed. This has placed 500+ jobs in line for being tossed away. Administrators from the business services company BDO mentioned that the firm was continued to trade normally as they now hope to sell off the company out of concern.
The company currently employs around 531 people in more than 135-strong network of stores as well as its head office at Welwyn Garden City. The company has now joined a list of retail sector causalities that were hit by the tough trading. This is actually a resultant of weak confidence showcased by the consumers along with high costs coming from minimum wage protest and business rates.
Last Friday, Sky News stated that Hilco, a company that owns Homebase, is currently plotting to obtain this troubled company. Ryan Grant, the Business Restructuring Partner for BDO stated that regardless of the massive investment that went into this business in a span of 5 years, Bathstore continued to struggle in an effort to overcome its well-documented issues with regards to the retail sector in the U.K.
This collapse has added Bathstore in the list with Toys R Us and Maplin which collapsed within a term of past 18 months.