Cath Kidston reportedly up for sale
It looks like Cath Kidston could be up for sale just two years after the company's pandemic-linked collapse saw it retreating from much of its physical retail chain and cutting close to a thousand jobs.
A Sky News report said that its owner, Baring Private Equity Asia (BPEA), has asked PricewaterhouseCoopers (PwC) to find a buyer for the now-wholesale-led company.
The business had struggled for some time pre-pandemic but the global health crisis tipped the scales against it and it went into administration not long after the first UK lockdown began in spring 2020.
It was then quickly sold in a pre-pack deal to its previous owner and all 60 of its UK shops were shut, although the company later reopened its Piccadilly, London flagship as a Cath Kidston brand megastore.
BPEA originally took full ownership of the brand in 2016 and after six years in full control hasn't confirmed that it's looking to sell the business.
But City sources told the news outlet that PwC has been speaking to prospective buyers for several weeks, although no possible candidates have been named.
It's also unclear how much the brand might fetch at present. The company hasn’t released any recent results nor given a trading update.
Cath Kidston continues to be run by former Coach executive Melinda Paraie, who became CEO in 2018.
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