24 November 2004
Administrators from our London office have sold mail order company House of Bath as a going concern to industry giant N Brown PLC.
House of Bath, a luxury bedroom and bathroom furnishings company with a turnover of £23 million, was placed into Administration on 1st November 2004.
Our Administrators have already succeeded in selling the business and assets for £1.1 million to N Brown PLC, a Manchester based quoted company with a market value close to £400 million and over 140 years experience of direct home shopping.
The sale will help save 35 jobs at House of Bath, which will continue trading from premises in Bath.
Commenting on the sale, London turnaround and recovery partner, Peter Kubik, said:
"House of Bath was set up in 1998 and quickly established a trading base of over one million customers.
"Sadly, it became a victim of its own success and encountered problems from overtrading. Things were further exasperated by problems with a major supplier.
"Having said that, N Brown PLC has recognized that it is a wholly viable business with huge potential that it now intends to return to profitability."
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