Bathroom business in administration
BATHROOM retailer Traditional Contemporary Bathrooms has gone into administration.
The business is headquartered in Dewsbury, employed 187 people and ran a nationwide network of stores under the brands bathrooms4all and Victorian Bathrooms.
Hunter Kelly and Charles King, from Ernst & Young’s Leeds office, were today appointed joint administrators of the business.
Mr Kelly said: “The company’s trading performance has been impacted by the economic downturn and the contraction of the new housing and refurbishment markets. In addition, whilst the business remains profitable, it has been unable to service the debt taken on to fund its recent considerable expansion.
“The business owns a 205,000 square feet modern warehouse in Dewsbury and has also opened a number of new retail stores over the last two years.
“We have received some expressions of interest in various parts of the business from a number of parties, which will be explored further over the next few days. The business is continuing to trade whilst we explore the interest.”
The administrators have immediately closed seven of the firm’s 17 stores with an eighth having already stopped trading before their appointment. The closures have led to the loss of 86 jobs.
