After acquiring Victoria Plum in May 2024, Victorian Plumbing is set to close the business and its Doncaster operations.
Victorian Plumbing swooped for the bathroom retailer, which had recently been through an administration and was already subject to a cost reduction programme, with a £22.5m purchase price.
Victorian Plumbing had intended to continue to trade the business as normal initially, pending finalisation of its integration plan.
Since acquisition, Victoria Plum contributed £15m of revenue and incurred an adjusted EBITDA loss of £2m. Now, however, Victorian Plumbing has finalised a consultation process with Victoria Plum’s workforce and has taken the decision to close the business and its operations in Doncaster, which is expected to be completed by 31 December 2024.
Mark Radcliffe, CEO of Victorian Plumbing, said: “The recent decision to close Victoria Plum provides the Group with a significant opportunity to accelerate growth and continue to further the investment in our brand and marketing.”
