In some sad news today, Cath Kidston has announced it is permanently closing all its UK stores.
All 60 of its shops across the country will close, after the company went into administration.
According to reports, the retailer called administrators in on Friday April 3rd.
Cath Kidston’s parent company, Baring Private Equity Asia, will purchase the brand from administrators, as well as its e-commerce and wholesale businesses, it’s been confirmed.
CEO for the brand, Melinda Paraie, said: “While we are pleased that the future of Cath Kidston has been secured, this is obviously an extremely difficult day as we say goodbye to many colleagues.
“Despite our very best efforts, against the backdrop of COVID-19, we were unable to secure a solvent sale of the business which would have allowed us to avoid administration and carry on trading in our current form.”
A Baring Private Equity Asia spokesperson added: “While we are disappointed that the COVID-19 crisis has resulted in the cessation of the retail store network and impacted many employees, we are pleased to have secured a future for a number of Cath Kidston staff and the Cath Kidston brand in the form of a viable digital business.”
