Bathstore jobs at risk as retail woe continues
MORE jobs woe could be on the way for Swindon after reports emerged that Bathstore is on the verge of collapse.
The UK’s biggest bathroom specialist, which has branches on Hobley Drive in Stratton and another in Chippenham, employs around 700 people across the country.
Sky News reported that advisory firm BDO has been lined up to handle an insolvency process for the business.
The most recent set of accounts filed at Companies House reveal Bathstore made a pre-tax loss of £22 million on sales of £141m in the year to July 31, 2017.
Founded in Croydon in 1990, the group has been owned since 2014 by American billionaire Warren Stephens.
Sales in the £1bn bathroom sector have been hard hit by a decline in consumer confidence and the housing market, with showrooms struggling due to an increase in the number of customers buying online.
If Bathstore fails to secure a rescue deal, it would the latest in a long line o British retailers to hit the rocks.
Toys R Us and Maplin have gone bust, while store closures have affected thousands of staff members at Debenhams, House of Fraser and Topshop.
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