The specialist bathrooms chain, Bathstore is close to appointing administrators. The privately owned retailer is lining up BDO, the accountancy firm, to handle an insolvency process. The intention to appoint BDO as administrators is likely to be filed early next week.
The total size of the company’s workforce is unclear, however an administration process would likely endanger hundreds of jobs. If a rescue deal cannot be agreed, it would be the latest collapse of a well known retailer – following in the footsteps of the recent casualties of the high street that include: Maplin, Toys R Us, both of which went bust in the last 18 months unfortunately.
The high street is looking very bleak at this moment in time, with companies such as: House of Fraser, Debenhams and New Look all closing down stores and slashing jobs. The high street crisis has seen high street retailers ask the government for help, although apart from a series of funds aimed at regenerating high streets – very little has materialised.
However the high street is set to fight back.
