Mar 28, 2023
Retailer Next buys Cath Kidston in £8.5m deal
Retailer Next has bought floral fashion brand Cath Kidston from administrators in a deal worth £8.5m. Next has taken on the name and intellectual property but not Cath Kidston's four shops. Administrators PwC said the shops would stay open while "Operations are wound down", but added there would be redundancies. Next has been snapping up struggling retailers, buying Made.com and fashion chain Joules late last year. Cath Kidston collapsed in 2020 with the loss of nearly 1,000 jobs and the closure of all its UK shops. Cath Kidston had been hit by the "Decline in consumer spending driven by cost-of-living pressures and rising costs," administrator Zelf Hussain said.
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