THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Steamer Trading bought out of administration by ProCook

Cookshop chain Steamer Trading has been bought out of administration by trade kitchenware retailer ProCook.

GENERAL MERCHANDISE

Steamer Trading bought out of administration by ProCook

Cookshop chain Steamer Trading has been bought out of administration by trade kitchenware retailer ProCook.

Steve Absolom and Will Wright of KPMG were appointed as joint administrators of the business today and subsequently completed an agreement to sell 27 Steamer Trading stores and most of the company’s assets to ProCook.

Some ten underperforming stores have not been included in the deal and will now close with the loss of 79 jobs.

However, a Steamer Trading store in London’s Knightsbridge, which trades under the Divertimenti brand, has been acquired by Divertimenti Limited.

The two deals have resulted in the saving of 332 jobs.

Nick Holloway, director at KPMG UK, said: “We are delighted that we have been able to rescue such a long established business including a high proportion of stores and preserve a large number of jobs, especially given the current economic pressures faced by retailers across the UK. The trade sale compliments the existing ProCook business and further increases their high street presence.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process