Posted 22nd July

Homebase buys Bathstore

22nd July 2019 - 11:58am
money matters, bathstore, administration, homebase, acquisition, kbb, kbbdaily

Homebase – which was itself saved from falling into administration last year – has acquired Bathstore – which fell into administration in June – and will take control of the bathroom retailer’s intellectual property, all remaining stock, website and 44 of its stores.

The sale has secured the jobs of 154 employees at the 44 stores that have been saved. The DIY chain said it also plans on opening a “significant” number of Bathstore concessions in its own stores over the next 18 months. Homebase added that Bathstore’s online business will continue to trade independently from the Homebase website.

“We are absolutely delighted to welcome Bathstore into the Homebase family,” said Homebase CEO Damian McGloughlin. “With a reputation for quality service and excellent products, Bathstore complements Homebase’s reinvigorated range.

“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. Through strong cost management and improved shop keeping we are committed to making Homebase the best place to shop for everything you need for your home and garden projects.”

McGloughlin added: “As a result of the hard work of the Homebase team, our turnaround is ahead of plan. While we still have a significant amount of work to do, the customer response to our new ranges has been very encouraging and we are on track to break even this year against a loss of over £100m last year.”

According to administrator Ryan Grant of BDO LLP, the remaining Bathstore stores that are not being bought by Homebase will continue to trade for a number of weeks while remaining display stock is sold off. "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," Grant said.

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