Next has agreed to buy the Cath Kidston fashion and homeware brand out of administration.
The retailer has snapped up Cath Kidston’s brand, website and intellectual property in a £8.5 million deal.
The news follows Zelf Hussain and Rachael Wilkinson of PwC being appointed as joint administrators of CK Acquisitions, the registered company behind Cath Kidston.
Cath Kidston employs 125 people and has stores in London, Ashford, Cheshire Oaks and York. These will remain open to trade down stock before closing permanently.
Meanwhile, the cathkidston.com domain will be licenced back to the administrators for a period of up to 12 weeks and will then be relaunched under Next’s ownership.
