Ryan Grant, joint Administrator at insolvency firm BDO, acting for Bathstore.com (now BSCL Realisations Limited), has communicated with installers informing them that the process of agreeing unsecured creditors claims is underway.
Not to be confused with the Bathstore brand, now owned and operated by HHGL (Homebase), who purchased the brand last year, Bathstore.com fell into administration and closed its doors owing installers millions.
Ryan Grant (pictured) wrote to creditors in June, requesting that final submissions must be made, together with proof of debt, urging those affected to email email@example.com to stake their claim.
BiKBBI CEO Damian Walters commented: “Sadly the process of insolvency is floored in a number of ways, with once again the small business, who delivered services in good faith, pay the ultimate price.”
Damian added: “Whilst it’s great to see the process heading toward conclusion, it’s taken too long and is likely to disappoint those affected. The system simply fails to protect SME’s, whilst HMRC and other stakeholders are prioritised. Unsecured creditors, in this case installers are amongst the last to fight over scraps and that simply isn’t right.”
BiKBBI launched its Protected initiative in Parliament last year, aiming to remove financial risk for participating installers and their customers. The scheme began testing in January this year and will launch nationally in the Summer.
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