Next to buy Cath Kidston out of administration – but jobs will be cut as remaining shops close
Clothing giant Next has bought the brand, website and intellectual property of Cath Kidston after it was placed in administration, but it will close the remainder of the vintage-themed homeware company’s shops.
Administrators Zelf Hussain and Rachael Wilkinson of PWC arranged the sale of the homewares and lifestyle brand, which is known for its floral designs.
Hussain said the pandemic and cost-of-living crisis were both major challenges for Cath Kidston to navigate.
“Cath Kidston is a well loved lifestyle brand founded in 1993 and I am pleased to say that it has been bought by Next who will make sure it continues to flower under their ownership,” he said.
“The company has over recent years navigated through incredibly challenging market conditions including the pandemic restrictions, and most recently the decline in consumer spending driven by cost of living pressures and rising costs.”
While Next will buy the brand, the remaining Cath Kidston stores will close after they sell any remaining stock, meaning some of its 125 staff will be made redundant. Cath Kidston has shops in London, Ashford, Cheshire Oaks and York.
“In the short term its four stores will continue to remain open whilst operations are wound down. Sadly, there will be redundancies during this period of wind down and we will continue to support the staff throughout this period.”