Endless, the private equity owner of Victoria Plum has sold the business via a pre-pack deal to AHK Designs Ltd., a London based eCommerce business. Victoria Plum c.300 employees and for the year to 28 February 2022 had posted revenues of £113.6m with a pre-tac profit of £736,000.
However cost inflation in global freight charges together with a dampening of the market as the cost of living increased had impacted both profitability and cash flow.
The deal covers the sale of the business and certain assets, including its distribution network, and sees all Victoria Plums employees transferring to the new owner.
“Victoria Plum is a leading online retailer of bathroom products with a strong brand and market-leading product,” said Aamir Khurshid from AHK Designs. “We are pleased to be investing in the future of the business and look forward to welcoming all of Victoria Plum’s employees into AHK Designs.”
The transaction was agreed by administrators from Ernst & Young who were appointed on September 29th.
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