Struggling bathroom retailer calls in administrators
retail: A Hull bathroom retailer has called in administrators, prompting the closure of its city store.
bathrooms4all in Reed Street, off Freetown Way, has ceased trading after its parent company, Traditional Contemporary Bathrooms Limited, appointed administrators Ernst & Young.
Headquartered in Dewsbury, TC is a distributor and retailer of bathroom equipment and furnishings and operates 17 retail showrooms across the country, 16 of which operate under the trade name bathrooms4all.
Eight of these have now closed, resulting in 86 redundancies.
Joint administrator Hunter 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, while the business remains profitable, it has been unable to service the debt taken on to fund its recent considerable expansion.
"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."