Retail giant Bathstore has collapsed into administration after failing to find a buyer, putting more than 500 jobs at risk across the country.
The company, which has an outlet in Riverside, Hemel Hempstead, will continue to trade while administrators at BDO seek a buyer.
Bathstore has 132 stores and 529 staff. Most employees – 405 people – are shop workers, while 124 are in the head office in Welwyn Garden City, Hertfordshire.
Ryan Grant, the joint administrator, said: “Despite significant investment into the business over the past five years, Bathstore has struggled to overcome the well-documented challenges facing the UK retail sector.
“The appointment was made after several months of difficult trading and the failure of ongoing talks to find a buyer for the business. Bathstore is continuing to trade in administration while the administrators seek a buyer.”
More to follow.