E Point Perfect

Hilco eyes Cath Kidston takeover

Cath Kidston
// Hilco considers Cath Kidston takeover after the retailer was put up for sale
// Hilco has owned an array of prominent high street names over the last two decades

Cath Kidston is close to being taken over by retail investor Hilco, after the brand was recently put up for sale.

Hilco has owned an array of prominent high street names over the last two decades, has been holding talks about acquiring Cath Kidston from Baring Private Equity Asia (BPEA), Sky News reported.

It was unclear on Tuesday whether other potential buyers remained in contention to gatecrash the deal, although one source suggested it was effectively Hilco’s to lose.

READ MORE: Cath Kidston put up for sale two years after administration

Cath Kidston collapsed into administration in 2020 with the loss of nearly 1,000 jobs.

BPEA recently instructed advisers at PwC to find a new owner for the fashion retailer.

Cath Kidston was forced into administration in April 2020.

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.

Click here to sign up to Retail Gazette‘s free daily email newsletter

Source link >

Related posts

Halfords kicks off £1m legal battle against Axle Group

Hot weather, strikes and soaring inflation hit UK retail footfall as Brits stay home

Sainsbury’s faces summer shortages as DHL workers vote to strike over ‘second-class’ treatment

Aldi predicted to overtake Morrisons by 2023

Lidl to sell stunted fruit and vegetables after scorching summer

Sainsbury’s shareholders reject living wage call despite cost-of-living crisis