Victorian Plumbing is shutting down the rival retailer it bought three months ago, putting a hundred jobs at risk.
The bathroom specialist acquired competitor Victoria Plum in May for £22.5m and called it an “exciting strategic milestone” for the business.
Victorian Plumbing said it would continue the ongoing cost-cutting programme that was in place following its rival’s collapse into administration last September, with the intention of keeping both companies trading separately.
However, the bathroom specialist confirmed on Thursday (15 August) that it would close down Victoria Plum and had entered a consultation period for effected staff.
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A Victorian Plumbing spokesperson told Retail Gazette: “Following the acquisition of AHK Designs Ltd, we are proposing a closure plan for VictoriaPlum.com. As a result we have entered into a consultation period with a number of VictoriaPlum.com colleagues and only when the period completes can we provide an update.
“We are committed to keeping all employees, suppliers and connected parties up to date as we progress with the consultation. This proposal does not impact Victorian Plumbing Ltd.”
Victoria Plum fell into administration almost a year ago and was first bought in a pre-pack deal by AHK Designs, a subsidiary of the firm that owns Beds.co.uk and Cox & Cox.
It was then snapped up by Victorian Plumbing six months later, which at the time expected the business to “broadly break even in the second half of 2024″.
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