Fri, 24 Jan 2014 | BUSINESS SALE
Bathrooms retailer Bathstore is being prepared to change ownership, as its current owner Endless looks into a sale. Rothschild has been brought in to sound out interest from possible buyers.
Investment fund Endless purchased Bathstore, which operates over 150 outlets across the UK, in May 2012 from plumbing group Wolseley, after struggling to make City financiers happy with its cash figures and determined the business to be non-core.
Bathstore sells and installs showers, toilets, basins and all products relating to bathrooms, and provides a design service to its customers. Its sales of £95 million in 2011 and profits of £6.5 million were seen as reasonable at the time - the height of the downturn.
A spokesman for Bathstore said in a statement: “We are pleased with the performance of Bathstore since we made our investment in May 2012.
“There has been encouraging inbound interest in the business and we continue to work with management to support its growth.”
It is believed that Endless will seek a private sale of the business, and will apparently be going against the grain as numerous high street retailers – such as Poundland, Pets At Home and Fat Face - mull a flotation to cash in on strong equity markets and a strengthening economy.
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