The Buy It Direct Group, online UK appliance, IT and home retailer, has announced turning around retailer Better Bathrooms from administration to be a profitable company in six months, since acquiring the business in March this year.
The news comes following the acquisition on 18 March 2019 by the Buy it Direct Group, which also owns popular retail websites such as AppliancesDirect.co.uk, LaptopsDirect.co.uk and furniture123.co.uk.
Administrators closed all bricks and mortar stores, which meant Buy it Direct turned the business into a fully online model, operating from a central distribution hub.
Buy it Direct saved the jobs of 25 Better Bathrooms employees, and is now looking to recruit a further 25 members of staff to join the Better Bathrooms team.
BetterBathrooms.com currently has over 2,000 lines listed on its website and has plans to beat Better Bathroom’s £50m peak revenue within two years of the acquisition, a statement added.
Nick Glynne, managing director at Buy it Direct Group, said: “We are delighted to have acquired Better Bathrooms, which has great credentials within the bathroom and trade sectors, bringing further specialisms under the Buy it Direct umbrella.”
“This acquisition is key to the continued growth of Buy it Direct and allows us to maintain our position within the e-commerce market. We anticipate BetterBathrooms.com will become a real growth market for the group, as we establish ourselves as the go-to supplier of bathroom fittings and accessories.
“Our revenue trajectory shows that if we continue at our current pace, we will have taken BetterBathrooms.com from administration to smashing their peak revenue of £50m within two years.”