UK DIY News
Soak Rumoured To Be Up For Sale
Online bathroom retailer Soak is understood to be up for sale for the second time this year.
Soak, which is based in Nuneaton and operates a showroom at its head office, was sold by plumbing and heating company Ferguson to Christopher Bale, in March of this year.
Recent accounts filed for the company show turnover growth of 23% for the year ended 31st July 2018 with revenues of £70.2m. Figures show net liabilities of £4m and net debt of £13m for the same period.
The company states that it launched a new warehouse management system in November 2018 and is working on the implementation of an order management system, expected to go live within 12-18 months, which will improve efficiencies and service.
Sources told The Daily Telegraph that business services firm BDO has been appointed to oversee the sale of the business but neither company would comment on the matter.
It has been a challenging year for bathroom retailing: In July, Homebase bought Bathstore out of administration, just a few months after Better Bathrooms was bought out of administration by Buy It Direct.
Source : Insight DIY Team
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