British independent bathroom retailer Better Bathrooms has reportedly entered administration, which could affect the jobs of 325 employees.
The retailer has appointed business advisory firm FRP Advisory to act as joint administrators, according to a BBC News report.
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However, the retailer is planning to retain ten employees on a temporary basis, to assist the company in the administration process.
In November last year, Warrington Guardian reported about potential redundancies at the company that could lead to a high risk of affecting jobs because of its ‘difficult trading position’ due to ‘unsustainable central costs’.
FRP Advisory joint administrator and partner Phil Pierce told Warrington Guardian: “The challenges facing the UK retail industry are well known and are putting immense pressure on businesses operating in the sector.
“Unfortunately, Better Bathrooms has suffered from severe cashflow difficulties and an extended period of soft trading, which has forced the business into administration. Without significant investment or the cash to continue trading, the difficult decision was made to cease operations.
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By GlobalData“We will be working with all the affected staff to support their claims through the Redundancy Payments Service during this difficult time.”
Pierce also noted that the company is looking for potential buyers interested in acquiring the assets of the business.
Headquartered near Glazebury, Better Bathrooms currently operates 13 stores and two trade counters across the UK.
