Brighton store saved as Steamer Trading enters administration
Administrators of kitchenware retailer Steamer Trading said 27 shops will be taken on by rival ProCook '“ and the Brighton store is among them.
Steamer Trading, which has 38 stores across the UK, appointed administrators on Wednesday, January 9.
Administrators KPMG completed an agreement to sell 27 of its 38 Steamer Trading stores and the majority of the business and assets to ProCook.
These include the Brighton store on Ship Street, as well as Chichester, Eastbourne, Horsham and Lewes.
A further shop – trading under the Divertimenti brand in Knightsbridge – has been acquired by Divertimenti Limited.
Both deals see 332 jobs being secured.
But there are also 10 underperforming stores which are not part of the sale and will close immediately, resulting in 79 job losses, administrators said.
In Sussex, the Battle and Heathfield shops will close.
Nick Holloway, director at KPMG UK, who led the sale, 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.”
Steve Absolom, restructuring partner at KPMG in the UK and joint administrator, added: “Whilst it is always pleasing to preserve a significant number of jobs, sadly a number of redundancies are to be made at the 10 closed stores. Over the coming days, our priority is to ensure all employees who have been affected by redundancy receive the information and guidance they need in order to claim monies owed from the Redundancy Payments Office.”