Homebase acquires Bathstore but 91 locations set to close
Homebase on Monday confirmed the acquisition of Bathstore, taking control of 44 stores and the collapsed bathroom retailer's website.
Bathstore went into administration at the end of June and while 44 of the retailer's locations have been saved by the acquisition, a further 91 face closure, with hundreds of jobs still at risk.
Bathstore's administrators, BDO, said the remaining stores will continue trading until display stock is sold off.
Meanwhile, Homebase said it plans to open "a significant number" of Bathstore concessions in its stores over the next 18 months in a bid to strengthen its bathroom proposition.
The DIY retailer also said its own turnaround plan is now ahead of schedule, with the company having struggled to stay afloat in recent years before being sold to turnaround specialists Hilco Capital for £1 in May 2018.
Damian McGloughlin, chief executive 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.
"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.
"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."