Homebase acquires Bathstore to prevent plug being pulled on the national bathing chain
Following the announcement that Bathstore, the national bathing retail chain, had entered administration in late June, the company has been thrown a lifeline by Homebase, saving a number of stores and jobs.
At the end of June, Bathstore announced it had entered administration, throwing the future of the company, its 135 stores and its 531 employees into doubt.
The company known for selling and installing a vast range of bathing equipment, including accessible bathrooms for disabled and senior customers with its Easy Bathing range, seemed to be destined to be another casualty of the high street, doomed to share a similar fate to Maplin and Toys’R’Us.
Successfully securing a deal to acquire Bathstore however, the sale to Homebase sees the DIY retailer take over 44 Bathstores, saving 154 jobs, along with acquiring the bathing chain’s remaining stock and intellectual property.
According to Bathstore administrator BDO, the remaining 90 stores not being transferred to the DIY giant will “continue to trade for a number of weeks while remaining display stock is sold off”, with a number of jobs still at risk.
Ryan Grant, BDO business restructuring partner, commented: “In a difficult situation, we have been able to secure the future of the Bathstore brand and the transfer of 44 stores to Homebase to maximise realisations for creditors and protect as many jobs as possible.”
With plans now to establish a significant number of Bathstore concessions in its larger stores, Damian McGloughlin, CEO of Homebase, said: “We are absolutely delighted to welcome Bathstore into the Homebase family.
“With a reputation for quality service and excellent products, Bathstore complements Homebase’s reinvigorated range.”
It was not long-ago Homebase itself launched a CVA after the Australian conglomerate Wesfarmers controversially sold the DIY chain to restructuring specialists Hilco after failing to find success with its retail model in the UK.
“Since the launch of our turnaround plan just over 12 months ago, we have been focusing on reintroducing the popular ranges and products that our customers have been crying out for,” added Damian.
Ahead of the announcement of the acquisition by Homebase, Bathstore had cut 89 jobs from its headquarters, with more losses predicted in the future following a restructuring.
The list of stores included in the Homebase acquisition:
- Bristol Filton
- Burton Upon Trent
- Chester Saltney
- Edinburgh Morningside
- Glasgow Central
- Haywards Heath
- High Wycombe
- Milton Keynes
- Newcastle under Lyme
- North Finchley
- St Austell
- Tunbridge Wells
- Walton on Thames