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