News: Blow for city centre as another shop faces closure in Lincoln

News: Blow for city centre as another shop faces closure in Lincoln

Another Lincolnshire Highlights news story…

A Lincoln city centre store is due to close after the company plunges into administration.

Bathstore initially went to administration earlier this year, affecting 531 employees across 135 of its stores around the UK – bringing the Lincoln branch under the threat of closure.

And now closing down sale signs have been put up across the Mark Street store’s shop front.

Bathstore in Lincoln is set to close

Many items have been reduced by 50 per cent in a bid to get rid of its remaining stock inside.

 

Another sign on the door of the store confirms that administrators have been appointed to the company.

Antony David Nygate and Ryan Kevin Grant were appointed on June 26.

Confirmation of the appointment of administrators at the Bathstore

Speaking to the Mirror, Mr Grant 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 whilst the administrators seek a buyer.”

Bathstore was set up in 1990 by Patrick Riley and Nico de Beer.

Its company headquarters are in Welwyn Garden City in England, though it has been owned by billionaire Warren Stephens since 2014.

Bathstore will continue to trade while the administrators seek a buyer for the company.

It comes a day after it was revealed that Jack Machin Motorcycles on Carholme Road in Lincoln had shut down.

In June it was revealed that more than 100 shop and commercial units stand empty in central Lincoln.

Lincoln Small Business Action Group’s summer survey revealed that 119 premises were currently vacant – 10 fewer than in January – comprising one hotel, three pubs, two banks, two big stores and 111 other shop units.

Empty units were counted in an area stretching from South Park to Newport Arch, which includes the High Street, Portland Street, St Marks, St Mary’s Street, Sincil Street, the Cornhill, Broadgate, Silver Street, Central Market, Clasketgate, Waterside and Eastgate.



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