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AHK Designs, owner of e-commerce retailers such as Beds.co.uk and Cox and Cox, has acquired bathroom seller Victoria Plum, according to Sky News.
The news comes after people close to the business told Sky that inflation in global freight costs and pressure on consumer spending had impacted profitability and cash flow in recent months.
Investment firm Endless had put the business on sale, which had owned Victoria Plum since 2019.
It had also recently invested £3m of working capital into the company during the auction process.
Sky News stated that following the acquisition, over 300 of Victoria Plum’s staff will be transferred to the new owner.
City sources said the deal had been implemented through a pre-pack administration and accountancy firm EY had been appointed to handle the sale and pre-pack.
Insiders also told Sky that AHK Designs, whose affiliate, Giomani Designs, owns a number of other e-commerce stores, paid several million pounds for it.
