Installers working with Bathstore have been reassured by the retail chain that it’s “business as usual”.

It confirmed the operation is running normally, despite stories that the company was on the brink of collapse, and “all payments being made to suppliers, including installers” were being made “as usual” too.

According to a report by Sky News and The Guardian, Bathstore has lined up advisory firm BDO.

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Bathstore’s annual report and financial statements for the year ended July 2017, reported against sales of £144million, it delivered an EBITDA loss of £4.1million, before £18million of exceptional costs. The total income for the year was a loss of £29.3million.

Bathstore stated price pressure caused by the decline of sterling following the Brexit vote and a marked reduction in consumer confidence led to a decline in sales for the company.

It said: “The pressures experienced during the financial year continued beyond July 2017 and well into the current financial year, which has been particularly challenging throughout.”

On July 10, 2018, the company received a £15million loan from its ultimate shareholder and extended the maturity of previous loans to July 31, 2019.

Founded in 1990 by Patrick Riley and Nico De Beer, the first store was opened in Croydon and having established several outlets was sold to Wolseley in 2003.

After a decade of expansion, Bathstore was acquired by private equity firm Endless LLP for £15million in 2012.

A couple of years later Bathstore was sold as part of a management buyout when it was acquired by American billionaire Warren Stephens.

The company instated Ian Herritt as CEO on May 2018 succeeding Gary Favell, who spent six years at the helm.

Bathstore employs 700 people across 168 stores, including its Welwyn Garden City HQ.