Cath Kidston owner exploring sale - report
By Michele Maatouk
Date: Thursday 16 Feb 2023
(Sharecast News) - The owner of the Cath Kidston retail brand is reportedly exploring a sale just eight months after buying it.
According to Sky News, Hilco Capital, which specialises in buying distressed consumer businesses, has been approached by a number of potential buyers. City sources said Hilco was lining up PricewaterhouseCoopers (PwC) to advise on a sale.
It was unclear what structure a disposal by Hilco would take and whether any bidders would seek to take control of the whole company.
Cath Kidston was bought out of administration little more than two years ago by Baring Private Equity Asia (BPEA). At one stage, it had scores of shops, but now trades from just four of its own outlets.
Cath Kidston collapsed into administration in 2020 with the loss of nearly 1,000 jobs.
BPEA, which took full control of Cath Kidston in 2016, struck a pre-pack insolvency deal which entailed the closure of its entire UK high street estate. It still has fewer than a handful of stores in Saudi Arabia.
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