Nationwide bathing retailer Bathstore has appointed administrators to try and find a buyer for the business as its 135-strong network of outlets finds itself on the brink of closure.
A company notice published yesterday confirmed that joint administrators had been appointed.
Administration firm BDO said that the retailer will continue to trade while a buyer is sought but all installation work will cease immediately, according to a Sky News report.
Bathstore’s struggles reflect an increasingly tough high street for large retailers and place more than 500 jobs at risk.
The company launched a fully adapted bathing suite in 2017, revealing plans to dominate the specialist space.
Its Easy Bathing collection was part of a plan to claim a large stake of the specialist bathing market after deciding that it was an under-served sector.
In an interview with AMP last year, the firm had also hinted at making the natural jump into adapted kitchens and bedrooms.
According to Sky News, Hilco, which owns Homebase, is expected to register its interest in Bathstore.
Bathstore made a pre-tax loss of £22m on sales of £141m in the year to 31 July 2017, according to figures filed with Companies House.