Just a few months after Victorian Plumbing announced the acquisition of Victoria Plum, the bathroom retailer has decided to close the online-only retailer.
In a statement to the press, Victorian Plumbing said: “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.”
At the time of the acquisition, Mark Radcliffe, CEO of Victorian Plumbing, commented: “This acquisition represents another exciting strategic milestone for the company and, together with the investment in our new distribution centre, provides a unique opportunity to deliver increased shareholder return.”
Following Victorian Plumbing's half year results for the 6 months ended 31st March 2024, which revealed was revenue down 1% to £144.6m, while gross profit was up 8% to £72.3m, Radcliffe said: “I am pleased with the group’s performance in the first half, having increased profitability and consolidated our leading position as the UK’s number one bathroom retailer... This robust first-half performance, our unchanged momentum into the rest of the year and the exciting developments scheduled for H2 2024, gives the board confidence in our profitable growth strategy as we continue to deliver long-term value for all stakeholders.”
Headquartered in Skelmersdale, the group employs over 700 people across 9 other locations, including sites in Leyland, Doncaster, Manchester and Birmingham. It offers a wide range of over 34,000 products to B2C and trade customers, with more than 130 own and third party brands across a wide spectrum of price points.
