Fashion retailer Cath Kidston’s 60 UK stores are likely to be closed and the business will focus on trading online and wholesale.
CK Acquisitions, a company controlled by Baring Private Equity Asia, has bought the brand, ecommerce platform and wholesale business from administrators. The UK shops will remain under the management of administrator, Alvarez & Marsal.
It is expected that all shops will be shut, with the loss of 740 jobs in the UK.
Cath Kidston is one of several weak retailers that have been pushed over the edge by the impact of the coronavirus pandemic. Department store group Debenhams and fashion and home specialist Laura Ashley also went into administration in recent weeks.
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