Following ProCook’s acquisition of the Steamer Trading business, saving the retailer from administration, it has been revealed that 27 stores will join the new owner’s portfolio, whilst 10 face immediate closure.
The sale of the business was completed today after administrators were called in on January 9. The move will see retailer ProCook grow its retail estate by more than half, from 37 outlets to 64.
Whilst many jobs were saved in the deal, administrator KPMG explained: “There are 10 underperforming stores, which are not part of the sale and will close immediately. These closures unfortunately result in 79 job losses.”
ProCook owner Daniel O’Neill has said that the business will “endeavour to fill all vacancies across our stores by transferring people from closing [Steamer Trading] stores.”
The 27 Steamer Trading stores that ProCook has acquired are:
- Bishop’s Stortford
- Bury St Edmunds
- Saffron Walden
- St Albans
The 10 Steamer Trading Cookshop branches that ProCook has not acquired and face closure are:
KPMG added: ‘A further store – trading under the Divertimenti brand in Knightsbridge – has been acquired by Divertimenti Limited. [Steamer Trading Cookshop’s Ben Phillips has bought this store.] Both deals will save 332 jobs.
Steamer Trading acquired Divertimenti in 2016, taking on the flagship store in London's Knightsbridge, the Divertimenti Cookery School (which is housed in the two-storey London store), the brand’s online business and its distribution hub in Worcester.
Steamer had already closed the doors to its Marlow store in 2018 after it was approached by pub chain, Marstons about turning the site into a restaurant and bar. However, those plans were reportedly scrapped, as Marstons then sold the Grade II listed building on to developers for £4.5million.
Industry charity, the Rainy Day Trust is calling for any Steamer Trading staff who have been affected by the closures, and need advice or support, to get in touch on 0203 192 0486 or email firstname.lastname@example.org Application forms for assistance from the charity can also be downloaded from www.rainydaytrust.org.uk/get-help/apply-for-help/