Bathstore poised for sale, as Endless appoints Rothschild investment bank to find buyers
Owner of Bathstore, Endless has confirmed reports it has appointed Rothschild investment bank to explore a sale of the company.
Bathstore made a full-year profit of £3.3million to July 2013, whereas last year it made a loss of £3.8million. Its total sales increased by 10% to £99million in its last financial year.
The company believes its revival of fortunes is based upon the combined customer experience of instore and online sales. Following a redesign of its website, which now includes a 2D room planner, video tutorials, quote retrieval and online ordering, Bathstore has had an18% increase in web traffic and 47.5% growth in online sales in 12 months.
Endless bought the 172-strong chain of bathroom showrooms for £15million from plumbing group Wolsleley.
A spokeman from Endless said: “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.”
Pictured is CEO of Bathstore Gary Favell