The proprietor of the Cath Kidston retail model is exploring a sale simply eight months after shopping for it.
Sky News has learnt that Hilco Capital, which specialises in shopping for distressed client companies, has been approached by a lot of potential patrons of the trendy classic model.
City sources mentioned Hilco was lining up PricewaterhouseCoopers (PwC) to advise on a sale.
It was unclear on Thursday what construction a disposal by Hilco would take and whether or not any bidders would search to take management of the entire firm.
London-based Hilco has owned a few of Britain’s best-known retailers, together with Homebase and HMV.
Cath Kidston was purchased out of administration little greater than two years in the past by Baring Private Equity Asia (BPEA).
At one stage, it had scores of outlets, however now trades from simply 4 of its personal retailers.
Cath Kidston collapsed into administration in 2020 with the lack of almost 1,000 jobs.
It was established by its eponymous founder in 1993, grew to become a excessive avenue fixture with scores of standalone outlets.
Like many retailers, nevertheless its fortunes had been hit by the pandemic, forcing it into insolvency slightly below three years in the past.
BPEA, which took full management of Cath Kidston in 2016, struck a pre-pack insolvency deal which entailed the closure of its complete UK excessive avenue property.
It nonetheless has fewer than a handful of shops in Saudi Arabia.
Known for its floral and polka dot designs, Cath Kidston has been run for a number of years by Melinda Paraie, who joined as chief govt from luxurious items model Coach in 2018.
It expanded from a single store in West London promoting automobile boot finds and classic material right into a enterprise providing trend, homewares and equipment.
The chain made a fortune for its founder when she offered a stake to non-public fairness agency TA Associates about 12 years in the past in a deal reportedly value £100m.
Hilco couldn’t be reached for remark.
Source: information.sky.com”