Next looks set to pick up troubled vintage staple Cath Kidston

In accordance with studies from Sky Information’ Mark Kleinman late on Monday night, Subsequent is ready so as to add the model to its rising portfolio.

Cath Kidston would turn into the newest struggling retailer Subsequent has swooped in to buy.

Subsequent snapped up for £3.4million in November 2022 after the web furnishings retailer crashed into administration.

Only one month later, Subsequent additionally went on to avoid wasting vogue group Joules in a deal price £34million.

Subsequent has over 500 shops throughout the UK.

Cath Kidston, in the meantime, has closed dozens of outlets over the previous few years, with solely 4 now remaining within the UK.

It crashed into administration in 2020 with the lack of practically 1,000 jobs however was rescued following a deal by Baring Personal Fairness Asia (BPEA).

However the association noticed all its bodily shops shut, in yet one more blow for the UK excessive road, with its presence nonetheless primarily on-line immediately.

BPEA had been a Cath Kidston shareholder since 2014, took full management of the enterprise in 2016, and went on to exit the corporate altogether in July 2022.

Cath Kidston has been owned by Hilco Capital ever since – which means its final huge takeover occurred lower than a yr in the past.

Hilco is reported to have held talks with numerous potential bidders for a sale, with PricewaterhouseCoopers stated to be advising.

The agency has additionally beforehand rescued Homebase, HMV, Oasis and Warehouse from administration.

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