The future of 530 staff at retailer Bathstore has been thrown into doubt after the company went into administration.

The business, which has 135 stores across the UK, will continue trading while administrators at BDO seek a rescue buyer.

Outstanding customer orders will be fulfilled subject to available stock, but all installation services have ceased immediately.

The collapse comes after a failed sales process for the business, which has been owned by American billionaire Warren Stephens since he backed a management buyout in 2014.

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Ryan Grant, business restructuring partner at BDO, 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."

Iberdrola, the owner of Scottish Power, has bought a stake in electric vehicle charging business Wallbox, as part of the start-up's 15 million euro (£13.4 million) funding round.

Wallbox produces charging points for electric vehicles and plans to use the its new funds to strengthen its position in Europe and expand the business globally.

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The move firms Wallbox's relationship with Iberdrola, which already offers Wallbox technology as part of its domestic electric vehicle customer packages in the UK and Spain.

Iberdrola has pushed sustainable options in the UK, with Scottish Power launching a partnership with car dealer Arnold Clark to provide customers with electric vehicle packages, including the development of home charging points.

The company behind We Buy Any Car has received a £1.9 billion bid for the group from private equity house TDR Capital.

Bosses at BCA Marketplace have recommended that shareholders accept the offer, which will go to an investor vote.

The 243p-a-share offer is 25% higher than the share price before BCA revealed it was in advanced talks with its suitor.

TDR Capital said: "BCA is a high-quality business that operates in a market that is changing rapidly, driven by evolving customer demands and digital disruption.

"We are highly supportive of BCA management and believe that with the right investment and support, BCA can continue to grow and evolve its market-leading automotive aftermarket services offering for the benefit of its customers, employees and partners."

BCA said: "The offer from TDR gives shareholders the opportunity to receive cash at a significant premium to the prevailing share price and will allow BCA to develop its business as a private, unlisted company."