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BetterBathrooms Bought Out of Administration

BetterBathrooms Romford 725 x 500

BetterBathrooms has been bought out of administration by an online retail company.

The business went into administration at the beginning of March with the loss of 325 jobs but its assets have since been bought by Buy It Direct Ltd, owner of the Appliances Direct and Furniture 123 brands.  

Buy It Direct operates three retail stores; one in Barnsley, one in the East Midlands, and one in Huddersfield, alongside its various online businesses which sell consumer electronics and IT goods, among others.

Phil Pierce of FRP Advisory said at the time: "The challenges facing the UK retail industry are well known and are putting immense pressure on businesses operating in the sector.

"Unfortunately, BetterBathrooms has suffered from severe cashflow difficulties and an extended period of soft trading, which has forced the business into administration." 

On Thursday 14th March, FRP confirmed that the assets of BetterBathrooms (UK) Limited had been sold to Buy it Direct Ltd.

Phil Pierce said: “By securing a sale of the assets of the business, we have been able to maximise returns to creditors. Buy it Direct’s proven online retail expertise and infrastructure will ensure that they are well placed to take the business forward and we wish them well for the future.”

Nick Glynne, managing director of Buy it Direct said: “The BetterBathrooms business will complement our other successful 'home' brands, Appliances Direct and Furniture123 and I am particularly pleased to be working with some of the existing talented team. We hope to start trading again later this month and are now focused on resurrecting and developing the brand to demonstrate exceptional value to our customers.”

It has been reported by KBB Review that 12 jobs have been secured and the new owner is hoping to save a further 50 roles.  

Source : Insight DIY Team

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16 March 2019

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