Tough times for staff in Peterborough as Bathstore goes into adminstration

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Staff at national retailer Bathstore are facing an uncertain future after the company plunged into administration.

The bathroom specialist, which has a branch in Newton Way, Fengate, Peterborough, has called in administrators in a move that puts the future of more than 500 staff at risk.

The business will stay open while administrator BDO tries to find a buyer for the 135-strong chain.

The Hertfordshire-headquartered Bathstore also has branches in Huntingdon and Cambridge.

Outstanding customer orders will be fulfilled subject to available stock, but all installation services have ceased immediately.

The collapse comes after a failed sales process for the business, which has been owned by American billionaire Warren Stephens since he backed a management buyout in 2014.

Ryan Grant, business restructuring partner at BDO, said: "Despite significant investment into the business over the past five years, Bathstore has struggled to overcome the well-documented challenges facing the UK retail sector.

"The appointment was made after several months of difficult trading, and the failure of ongoing talks to find a buyer for the business.

"Bathstore is continuing to trade in administration, whilst the administrators seek a buyer."

The company employs 531 people across its 135 stores and head office in Hertfordshire.

The failure is the latest blow for the British high street, which is still reeling from a growing list of administrations and store closures.