Cath Kidston has been acquired by investment and restructuring firm Hilco Capital.
According to Sky News, Hilco was closing in on the deal yesterday, but The Times has subsequently reported that the takeover has gone ahead.
Established in 1993, Cath Kidston’s founder of the same name sold a majority stake in the business to private equity firm TA Associates around 12 years ago.
However, Baring Private Equity Asia took full control of the company in 2016, but Cath Kidston collapsed into administration in April 2020 with the loss of 900 jobs.
Baring Private Equity Asia then bought the company out of administration via a pre-pack insolvency deal, which included Cath Kidston’s ecommerce platform, franchise and wholesale businesses. However, its 60 strong store portfolio was not included.
