// Cath Kidston owner puts brand up for sale two years after administration
// Baring Private Equity Asia has asked PwC to find a new owner
Cath Kidston owner has put the iconic English brand up for sale as it drafts in PwC to find a buyer.
Baring Private Equity Asia has asked PwC to find a new owner after taking the retailer through a pre-pack insolvency process in 2020, Sky News reported.
Cath Kidston has been put up for sale just two years after collapsing into administration with the loss of nearly 1,000 jobs.
READ MORE: Big Interview: Holly Marler, Creative Director, Cath Kidston
Baring Private Equity Asia took total control of the retailer back in 2016 and struck a pre-pack insolvency deal in 2020 which led to the closure of its entire high street estate.
It does retain fewer than a handful of stores in Saudi Arabia.
PwC had been engaged with prospective buyers for a number of weeks, although their identities were unclear on Friday.
Cath Kidston has been run for the last four years by chief executive Melinda Paraie, who joined from luxury goods brand Coach in 2018.
Click here to sign up to Retail Gazette‘s free daily email newsletter
Source link >