Customer rescues luxury bathroom business
A YORKSHIRE-BASED exclusive bathrooms business has been saved from collapse after it was bought by one of its customers.
Harrogate-based entrepreneur Stuart Wilde has bought Luxury Bathe in Wetherby from administrators in what he calls his “Victor Kiam moment” in a deal that safeguards the company’s future.
Luxury Bathe specialises in the design and sale of luxury bathroom furniture and fittings operating from a 12,000 sq ft showroom located at Walkers Court,
Audby Lane on the Sandbeck trading estate, where 150 individually designed settings are on display including the largest collection of Villeroy and Boch bathroom, pottery, and tile products in Europe.
The business will be renamed Bathing Design Studio.
Mr Wilde, a trained accountant who recently retired as managing director of award-winning bus group Blazefield Holdings that includings Harrogate & District Travel as one of its subsidiaries, moved quickly to safeguard the firm when as a customer he became aware that the business was having financial difficulties.
He said: “What started as a bathroom furniture purchase ended with me buying the company, I like to call it my Victor Kiam moment! The showroom and products are so stunning and there is an exceptional team of staff that I just felt I wanted to give the business another chance of success.
“I am pleased that I was able to conclude a deal with the administrator so quickly, in fact it took less time than it did for my wife to place our order!”
Victor Kiam famously bought shaver company Remington after being impressed by its products.
Steve Hubbard, corporate finance director of accountancy firm RSM Bentley Jennison and Simon Morris of law firm Raworths advised the buyer.
Mr Hubbard commented: “Whilst times are obviously tough for retailers, Stuart and the team trading under the new name Bathing Design Studio, are confident that they can make the business a success due to the excellent brands they stock and high level of customer service offered.”
