Retailer Bathstore faces going into administration with up to 700 jobs at risk – The Sun

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Retailer Bathstore faces going into administration with up to 700 jobs at risk – The Sun



STRUGGLING retailer Bathstore is facing administration with up to 700 jobs at risk.
The bathroom specialist has 168 UK stores and is based in Welwyn Garden City, Herts.
1 Bathstore faces financial collapse putting up to 700 jobs and 168 stores at riskCredit: Alamy
American billionaire Warren Stephens led a management buyout in 2014 but the firm has struggled since.
Last night The Guardian reported that a firm has been lined up to handle a possible administration after it failed to find a buyer.
Patrick Riley and Nico de Beer founded the company in 1990 and opened its first shop in Croydon.
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The chain was sold to the builders’ merchant Wolseley in 2003.
Under its ownership it expanded its store network up to 170 shops, until Bathstore was sold to the private equity firm Endless in 2012.
The last set of figures show it made a pretax loss of £22million in the year to July 2017.
Debenhams falls into administration with 50 stores to close as part of deal to save the chain

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