Online bathroom giant Victoria Plum has been sold in a pre-pack administration following speculation about the company’s future.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Administrators EY were appointed last week (29 September) by owners Endless before immediately completing a sale to AHK Designs – owner of Beds.co.uk and furniture seller Cox & Cox. The deal will see Victoria Plum’s workforce of more than 300 people transfer to the new owner.
Endless, which had purchased the business back in 2019, had recently injected £3m worth of working capital into the company to support it during the auction process.
In a statement from administrators EY, it said: “Shortly following their appointment, the joint administrators completed a sale of the business and certain assets of the company to AHK Designs.”