Investor Hilco is understood to have acquired fashion retailer Cath Kidston, famous for its distinctive design.

Exterior of Cath Kidston store

Hilco is understood to have bought Cath Kidston

Hilco, which has often been associated with investments in distressed companies, was close to a deal yesterday Sky News reported. A deal has since been done, according to The Times

Hilco was expected to buy Cath Kidston from Baring Private Equity Asia, which bought the business out of a pre-pack administration two years ago. It was thought that the transaction would be on a solvent basis.

Hilco has conducted a host of retail deals over the years, at various times controlling businesses including HMV. At present it owns DIY specialist Homebase

Cath Kidston was originally launched in 1993 and built up a strong following for its floral designs. The eponymous founder sold up to private equity house TA Associates more than a decade ago before Baring bought in.

It expanded internationally, but was knocked off course by the outbreak of the pandemic in 2020.